PRIMUS Telecommunications Group Sells Australian Operations To M2 Telecommunications Group Limited-AP

The Associated Press reported that PRIMUS Telecommunications Group agreed to sell its Australian operations to M2 Telecommunications Group Limited for about AUD192.4 million ($200 million). The deal has been approved by Primus' board and is expected to close in the second quarter of 2012. The Company will separate its Canadian operations into a 'pure-play' data center business serving medium and large businesses, and a voice and data services business serving consumers and small- and medium-sized businesses.