TPG Telecom has finalised the sale of its fibre network infrastructure assets, along with its enterprise, government, and wholesale fixed business, to Vocus and its shareholders Macquarie Asset Management and Aware Super. The transaction, valued at $5.25 billion, marks a significant shift in the Australian telecommunications landscape.
Vocus, now combining its existing infrastructure with TPG’s extensive fibre network, enterprise and government customer base, international submarine cables, and Vision Network’s wholesale residential broadband business, is set to enhance its service offerings. Vocus provides telecommunications services across Australia and New Zealand, owning an extensive fibre network. It also provides connectivity to Asia through their international submarine cable network.
According to Vocus chief executive Andres Irlando, the acquisition provides Vocus with the scale and reach necessary to deliver a broader range of enhanced services, fostering greater competition within a critical sector. The company will begin integrating the acquired teams, network assets, products, and solutions into its existing systems. This includes the PPC-1 submarine cable, which extends from Sydney to Guam and offers connectivity to the United States.
TPG will retain its mobile radio network infrastructure, consumer and EG&W mobile businesses, and its consumer and small office/home office commercial operations. Further, TPG and Vocus have established a long-term partnership, ensuring TPG maintains access to Vocus’ fibre infrastructure. Shares in TPG experienced a downturn, decreasing by 2.6 per cent.
