Australia’s TPG Telecom Ltd said on Monday it had ended discussions with Macquarie-backed rival Vocus Group for the sale of some of its non-mobile fibre assets for about A$6.3 billion ($4.00 billion).
“The proposed transaction involved considerable complexity and, ultimately, the parties have been unable to reach alignment on the operating model and commercial terms,” TPG Telecom said in a statement.
In August, Vocus had made a non-binding offer to TPG Telecom to acquire certain Enterprise, Government and Wholesale (EGW) assets and associated fixed infrastructure assets, including wholesale broadband business Vision Network.
TPG later extended the due diligence period for the deal in September, before it expired in October.
($1 = 1.5743 Australian dollars)
Source: CNA
