Australia's competition watchdog begins review of Vocus-TPG $3.4 billion deal

(Reuters) - Australia's competition regulator said on Monday it is seeking views on the Macquarie-backed telecommunications group Vocus' A$5.25 billion ($3.39 billion) takeover of local telecom operator TPG Telecom (BCBA:TECO2m )'s enterprise, government, and wholesale (EG&W) fixed business and fibre network assets.

The Australian Competition and Consumer Commission (ACCC) said it is seeking views from interested parties on the likely impact on prices and service quality in the supply of fixed line voice services, data networks and connectivity services, among other queries, if the deal was to receive approval.

TPG Telecom announced the deal in October, stating that it would retain its radio network infrastructure, mobile and fixed retail and wireless businesses after Vocus' takeover of its fibre and fixed assets.

ACCC has invited submissions from interested parties regarding the acquisition by Dec. 2.

The local competition watchdog also provided Feb. 13, 2025 as a provisional date for the announcement of its findings from the ongoing review.



Both TPG Telecom and Vocus did not immediately respond to a Reuters request for comment.

($1 = 1.5468 Australian dollars)

Source: Investing.com