Vocus to pay $6.3b for TPG Telecom fibre networks

Jenny WigginsSenior companies reporter

Aug 1, 2023 – 6.11pm

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Key Points

Why it matters: TPG wants to become Australia’s second-biggest telecoms company.
It appears poised to get $6.3 billion from Vocus from a fibre sale.
TPG investors bid the shares higher on news of the deal.

TPG Telecom’s shares soared to their highest level in a year after the communications business confirmed it is in exclusive talks with the Vocus Group to sell some of its fibre assets in a deal valued at $6.3 billion.

As reported on Tuesday by The Australian Financial Review’s Street Talk, TPG has received an indicative offer from Vocus for a bunch of telecommunications assets after last year hiring Bank of America to review its Vision Network business, which manages fixed broadband infrastructure.

Jenny Wiggins writes on business, specialising in infrastructure, telecommunications and transport.