Continous-wave performance characteristics for 850nm vertical-cavity lasers exploiting M-oxide confinement are investigated for application to multimode fibre data links. Threshold current as low as 193 mu A are measured for devices with 5 mu m apertures. Wallplug efficiencies exceeding 30% are measured for the first time in 850nm VCSELs, at output powers of a few milliwatts most relevant for data link applications. Lasing spectra indicate enhanced multimode output even at very low drive currents.