TPG Telecom has announced that it has concluded discussions with Vocus regarding the potential sale of its non-mobile fiber assets, valued at AUD 6.3 billion (USD 4.01 billion). The company stated that it has received interest from other investors.
According to TPG, the negotiations with Vocus involved a complex transaction encompassing its enterprise, government, and wholesale assets. However, the two parties were unable to reach an agreement on the operating model and commercial terms, leading to the termination of talks.
TPG had previously received a non-binding proposal from Vocus in August, along with several expressions of interest in its fixed infrastructure assets. The company revealed that it continues to receive strong interest from potential strategic and financial investors in these assets.
Despite the conclusion of talks with Vocus, TPG remains committed to exploring opportunities to deliver value to its shareholders. The company will assess alternative options and continue an ongoing strategic review with Bank of America.
An acquisition of TPG’s fixed assets could have positioned Vocus as a significant competitor to Australian telecommunications giant Telstra, as noted by Jefferies analyst Roger Samuel in a recent report.