News is reporting that Australian mobile phone distributor Cellnet (which is having a tough time since Telstra announced an exclusive distributor) is looking for a buyer for its mobile content business Mercury Mobility, which provides ring tones, music and wallpapers for mobile phones. The interesting part is the reason:
“It has come to the boards attention that Mobile content businesses trade on higher, more attractive multiples than distribution companies,” he said. “Effectively the potential value of this business may be overlooked by being combined with the other cellnet businesses.”
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