US-based Primus Telecommunications Group (PTGi) has hired the investment bank Jeffries & Company to explore “strategic alternatives to enhance shareholder value”.
In a statement, PTGi said that these alternatives may include a sale, merger, or…
US-based Primus Telecommunications Group (PTGi) has hired the investment bank Jeffries & Company to explore “strategic alternatives to enhance shareholder value”.
In a statement, PTGi said that these alternatives may include a sale, merger, or another business combination involving PTGi.
It could also involve a recapitalisation of PTGi, a JV arrangement, the sale/spin-off of PTGi assets or business units, or the continued execution of PTGi’s business plans.
“PTGi has not set a timetable for completion of the evaluation process or made a decision to pursue any particular transaction, and there can be no assurance that any transaction will be pursued or completed,” it said.
PTGi provides a wide range of telecoms services – including voice, IP and outsourced managed services – to business and residential customers in Australia, Brazil, Canada and the US.
PTGi started trading on the NYSE on 27 June.
PTGi made a net loss of US$6.3m in Q2, down from a net loss of US$13m in the same period in 2010, and before completion of the acquisition of wholesale telecom exchange services provider Arbinet.
