TPG Telecom Ltd. has announced an agreement to sell its fiber assets and fixed business services, catering to enterprise, government, and wholesale customers, to Vocus Group Ltd. The deal is valued at AU$5.25 billion (approximately $3.5 billion).
As part of the agreement, Vocus will provide fixed network services to TPG (TPG, Financial). The transaction is set to be completed in the latter half of 2025, concluding TPG's strategic review of its fiber network infrastructure. The sale is expected to yield net cash earnings of AU$4.65 billion to AU$4.75 billion for TPG.
TPG's CEO, Iñaki Berroeta, mentioned that this agreement establishes a more focused and streamlined business, offering significant opportunities to optimize their capital structure. Supported by Macquarie Asset Management and Aware Super, Vocus will operate a network exceeding 50,000 kilometers of owned or leased fiber following the deal's completion.
