BUZZ-Australia's 5G Networks falls most in 10 months on bid to buy Aucyber

Reuters
2024-12-20

** Cloud computing service provider 5G Networks fall as much as 13.9% to A$0.155, its biggest intraday pct fall since late-February

** Co bids to acquire cyber security solutions Aucyber

at an offer price of A$0.11 in cash, representing a premium of 6.8% to the stock's last close - according to data compiled by LSEG

** CYB says it is in the early stages of evaluating the offer and advises shareholders to take no action

** Stock posts its lowest level since Dec 3

** More than 1.8 mln shares change hands, 2.6x the 30-day avg

** 5GN stock down 30.1%, outperforming CYB's YTD loss of 78%, including current session's move

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com;))

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