TPG shares rise on renewed discussion with Vocus
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More news: Shares in TPG Telecom rose 1.8% to $4.68 in an otherwise weak market after Australia’s third-biggest telecoms firm confirmed it had revived discussions with Vocus Group to sell its fixed infrastructure network. The two rivals had previously ended discussions in November after failing to agree on a $6.3 billion deal.
TPG confirms revived deal talks with Vocus
The news: Telecoms firm TPG Group says it has held non-exclusive discussions with Vocus for the sale of its fixed network as part of a strategic review process.
The numbers: TPG confirmed the talks after a report in The Australian Financial Review. Vocus had previously offered $6.3 billion for TPG’s enterprise, government and wholesale assets along with the associated fixed infrastructure.
The context: TPG, Australia’s third-biggest telecoms firm, ended discussions with Vocus in November after the two companies could not agree on a deal for its fixed network. The company has been looking to simplify its brand and product portfolio and first put these assets on the block in October 2022.
On Monday, TPG said it is continuing to assess value-optimising alternatives for its fixed infrastructure assets as part of a strategic review and there is no certainty that a transaction will eventuate from the current discussions with Vocus.
The source: ASX
