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MNF Group Ltd (ASX:MNF) Enters Binding Agreement with Vonex Limited (VN8.AX)    FRA:M2S) today announced that it has entered a binding agreement with Vonex (VN8.AX) for the sale of part of its Direct business. The Company announced it had signed a conditional term sheet with Vonex on 7 June 2021, to sell part of its Direct Business for $31 million. All conditions have been satisfied, including detailed due diligence and the Company has now signed a binding agreement with completion set for early August. The divestment of these direct businesses is in line with MNF s strategy to simplify the business and drive growth in its CPaas and UCaas voice services. Funds from the sale will be reinvested into the growing wholesale business and expansion offshore.

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