Vocus makes $6.3bn play for TPG fixed infrastructure assets

Vocus has made a non-binding $6.3 billion bid for certain fixed infrastructure assets owned by TPG Telecom.

In a financial filing, TPG Telecom characterised the offer as “indicative, highly conditional [and] non-binding.”

The telco said that the offer was one of an undisclosed number that it received following a strategic review of its wholesale residential fixed access business, Vision Network, in October last year.

Vocus has made a play for “certain TPG enterprise, government and wholesale assets and associated fixed infrastructure assets, including Vision Network.”

The conditions of the offer include due diligence, debt financing, documentation and board approvals.

TPG Telecom said the due diligence periods would expire on September 6.

“Discussions between the parties remain incomplete and transaction terms are subject to ongoing negotiation,” TPG Telecom said.

“The board of TPG has not made any decision to accept any offer, and there is no certainty an agreed transaction will eventuate.”

Any transaction would also have to pass regulatory approval.

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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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