TPG Telecom to sell assets to Vocus in $5.25 billion deal

TPG Telecom has agreed to sell its fibre assets and the company’s fixed business serving enterprise, government and wholesale customers to Vocus Group in a deal valued at $5.25 billion. Vocus will provide fixed network services back to TPG as part of the agreement, TPG said in a statement on Monday. The transaction, due to complete in the second half of 2025, marks the end of TPG’s strategic review of its fibre network infrastructure. The company expects the sale to deliver net cash proceeds of between $4.65b and $4.75b. The agreement “creates a more focused and streamlined business with significant optionality for the optimisation of our capital structure,” TPG chief executive Iñaki Berroeta said. Vocus, which is backed by Macquarie Asset Management and Aware Super, said after the deal it will operate a network of more than 50,000km of owned or leased fibre. Bloomberg