Council responds to Southern Phone sale
Monday 21 October 2019
Eurobodalla Council’s General Manager has responded to the proposed sale of Southern Phone to AGL, saying councillors will consider the offer, most likely at the first Council meeting in November.
“We all understand the telecommunications landscape is changing,” said Dr Dale.
“Our key concern is making sure local people working in the Moruya office keep their jobs, and I’m reassured by the company’s statement that the Southern Phone brand, products and team will be retained.”
The AGL offer is an all cash offer of $27.5 million for 100 per cent of the company.
Shareholders are 35 local councils, including Eurobodalla. Each council stands to receive a return of $785,714 on their $2 investment.
Southern Phone general manager David Joss has said the Southern Phone Board unanimously recommends shareholders accept the AGL offer.
Dr Dale said the matter will considered by Eurobodalla councillors, most likely at the 12 November Council meeting.