Investing
TPG Telecom receives $4.2 billion offer for non-mobile fibre assets from Vocus
© Reuters. FILE PHOTO: The corporate logo of communications company Vocus is photographed at their Sydney headquarters, Australia, August 22, 2017. REUTERS/Jason Reed/File Photo
(Reuters) – Australia’s TPG Telecom on Tuesday said it received an offer from Macquarie-backed rival Vocus to buy some of its non-mobile fibre assets for about A$6.3 billion ($4.21 billion).
“Vocus Group made an indicative, highly conditional, non-binding offer to acquire certain of TPG’s Enterprise, Government and Wholesale assets and associated fixed infrastructure assets, including Vision Network,” TPG Telecom said.
After assessing the offer, TPG Telecom said it provided Vocus exclusive due diligence, which is currently set to expire on September 6.
Earlier in the day, the Australian Financial Review reported that Macquarie Asset Management (MAM), through Vocus, was in talks with TPG Telecom to buy all of its fibre assets except mobile assets, which would create a combined entity with an A$8 billion ($5.35 billion) to A$9 billion enterprise valuation.
Shares in TPG Telecom, which jumped as much as 8% earlier in the session, were put on a trading halt pending the announcement.
($1 = 1.4977 Australian dollars)
Read the full article here
Closing Your Business? Do It Before the New Year to Save Money
Why Irate Artists Leaked OpenAI’s AI Video Generator Sora
Friends’ ‘Scrappy’ Side Hustle Led to a $1 Million Product
Unlock Lasting Business Success by Instilling These 5 Family Values
BlackRock, Vanguard, State Street sued by Republican states over climate push By Reuters
This All-Access Pass to Learning Is Now $20 for Black Friday
How to Create a Routine That Balances Rest and Business Success
Apple Prepares a New AI-Powered Siri to Compete With ChatGPT
A Macy’s Employee Made Accounting Errors Worth $132 Million
MIT Gives Free Tuition For Families Earning $200,000 or Less
Debt ceiling debate and its effect on the U.S. dollar
Debt ceiling default: Still no deal between parties
Stovall: If the U.S. defaults on its debt, all S&P 500 sectors will likely fall
What China's weaker-than-expected economy could mean for U.S. markets
A ‘Big Short’ investor sees financial disaster brewing in housing markets — again
-
Investing4 days agoThis All-Access Pass to Learning Is Now $20 for Black Friday
-
Passive Income4 days agoHow to Create a Routine That Balances Rest and Business Success
-
Side Hustles5 days agoApple Prepares a New AI-Powered Siri to Compete With ChatGPT
-
Side Hustles2 days agoA Macy’s Employee Made Accounting Errors Worth $132 Million
-
Side Hustles6 days agoMIT Gives Free Tuition For Families Earning $200,000 or Less
-
Passive Income5 days agoCustomers Want More Than Just a Product — Here’s How to Keep Up
-
Side Hustles4 days agoGift the Power of Language Learning with This Limited-Time Price on Babbel
-
Investing1 day agoFactbox-How Trump can overhaul US financial regulators when he takes office By Reuters