Green Asia

TPG Telecom’s $4 billion fiber assets bid’s due diligence period expires

Australia’s TPG Telecom said on Wednesday the exclusive due diligence period granted to Macquarie-backed rival Vocus Group for the A$6.3 billion sale of its non-mobile fiber assets has expired.

Discussions between the parties for the commercial terms of the deal remain ongoing, with the consideration subjected to change, TPG said in a statement.

Vocus did not immediately respond to Reuters’ request for a comment.

The bid, made in August, includes TPG’s non-mobile fibre assets such as certain Enterprise, Government and Wholesale (EGW) assets and associated fixed infrastructure assets, including the wholesale broadband business, Vision Network.

A successful deal would create a combined entity with A$8 billion to A$9 billion enterprise valuation.

($1 = 1.5873 Australian dollars)

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