A potential sale of TPG Telecom’s fibre network to Vocus is back on the table, with TPG confirming that “non-exclusive discussions” have taken place.
A year ago, Vocus made a non-binding $6.3 billion bid for certain fixed infrastructure assets owned by TPG Telecom.
But the potential deal was shelved in November 2023, with the parties citing “complexity” and a failure to reach agreeable terms.
The Australian Financial Review reported yesterday that Vocus is “back at the negotiating table” – with TPG Telecom later confirming re-engagement with Vocus in an ASX filing. [pdf]
TPG Telecom said that at its annual general meeting back in May, it had said “that it would continue assessing value-optimising alternatives for its fixed infrastructure assets as part of a strategic review.”
“Vocus Group and TPG have engaged in non-exclusive discussions as part of that strategic review process,” it said.
“There is no certainty a transaction will eventuate from the current discussions,” it added, noting the inability of the two parties to previously agree terms.