M2 Telecommunications Group Limited (ASX:MTU) Agrees To Acquire People Telecom (ASX:PEO)

  Melbourne, Australia, Dec 5, 2008 - (ABN Newswire) - M2 Telecommunications Group Limited (ASX:MTU) and People Telecom Limited (ASX:PEO) today announced that they have reached agreement for M2 to acquire 100% of People Telecom by way of Scheme of Arrangement ( & quot;Scheme & quot;).Under the Scheme, People shareholders will receive the following consideration:- 0.0916 MTU shares for every 1 PEO share;- 0.  

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