TPG Telecom extends due diligence period with Vocus

TPG Telecom has extended until October 4 an exclusive due diligence period granted to Vocus Group for the $6.3 billion offer for its non-mobile fibre assets.

Discussions between the parties are ongoing and incomplete and its board has not made any decision to accept any offer, TPG said.

“There is no certainty an agreed transaction will eventuate,” TPG added.

TPG, one of the country’s top telecom firms, received a non-binding offer from Vocus to buy some of its non-mobile fibre assets in August.

Vocus, formed by infrastructure investors Macquarie Infrastructure and Aware Super, specialises in wholesale fibre networks.

It has offered to buy certain enterprise, government and wholesale (EGW) assets and associated fixed infrastructure assets.

A successful deal would create a combined entity with $8 billion to $9 billion enterprise valuation.

The offer comes amid a steady rise in dealmaking in Australia’s telecom sector, with firms also reviewing options for their aging infrastructure and capitalise on growth in 5G.

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AndyC

Andy Curtis is an award-winning security consultant, researcher and public speaker. He has been working in the computer security industry since the early 1990s, having been employed by state and federal government, leading healthcare and banking providers across three continents. He has given talks about computer security for some of the world’s largest companies, worked with law enforcement agencies on investigations into hacking groups, and is a regular voice on TV and radio explaining IT security threats.

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