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REUTERS/Jason Reed/File Photo Acquire Licensing RightsNov 13 (Reuters) - Australia's TPG Telecom Ltd (TPG.AX) 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) as the parties failed to agree commercial terms. "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. The collapse of the fibre sale deal with Vocus is a second such setback for TPG Telecom, whose asset swap deal with bigger rival Telstra Group (TLS.AX) was blocked by the country's antitrust regulator and Australian Competition Tribunal. Under the asset swap deal, Telstra would have bought spectrum and transmission towers from TPG, while TPG would have kept selling 4G and 5G coverage using Telstra infrastructure.
Persons: Jason Reed, Vocus, Himanshi, Sandra Maler, Grant McCool Organizations: REUTERS, Australia's TPG Telecom Ltd, Vocus Group, TPG Telecom, Enterprise, Government, Wholesale, Vision Network, TPG, Vocus, Telstra Group, Australian Competition, Telstra, Thomson Locations: Sydney, Australia, Macquarie, Bengaluru
Oct 4 (Reuters) - Australia's TPG Telecom (TPG.AX) said on Wednesday the exclusive due diligence period granted to Macquarie-backed rival Vocus Group for the A$6.3 billion ($3.97 billion) bid for its non-mobile fiber assets has expired. Discussions between the parties for the commercial terms of the deal remain ongoing, with the consideration subject to change, TPG said in a statement. The bid, made in August, includes TPG's non-mobile fibre assets such as certain Enterprise, Government and Wholesale (EGW) assets and associated fixed infrastructure assets, including the wholesale broadband business, Vision Network. A successful deal would create a combined entity with A$8 billion to A$9 billion enterprise valuation. Separately, TPG was in an asset swap deal with Telstra which faced strong regulatory opposition based on competition concerns.
Persons: Nausheen, Shilpi Majumdar Organizations: Australia's TPG Telecom, Vocus Group, TPG, Enterprise, Government, Wholesale, Vision Network, Telstra, Thomson Locations: Macquarie, Vocus, dealmaking, Bengaluru
Sept 6 (Reuters) - Australia's TPG Telecom Ltd (TPG.AX) has extended until Oct. 4 an exclusive due diligence period granted to rival Vocus Group for the A$6.3 billion ($4.02 billion) offer for its non-mobile fibre assets. Discussions between the parties are ongoing and incomplete and its board has not made any decision to accept any offer, TPG said on Wednesday. Reuters in August reported that TPG, one of the country's top telecom firms, had received a non-binding offer from Vocus to buy some of its non-mobile fibre assets. Vocus, formed by infrastructure investors Macquarie Infrastructure and Aware Super, specialises in wholesale fibre networks. It has offered to buy certain Enterprise, Government and Wholesale (EGW) assets and associated fixed infrastructure assets, including the wholesale broadband business, Vision Network.
Persons: Poonam, Devika Syamnath Organizations: Australia's TPG Telecom Ltd, Vocus Group, TPG, Reuters, Macquarie Infrastructure, Enterprise, Government, Wholesale, Vision, Thomson Locations: dealmaking, Bengaluru
TPG Telecom said that Vocus made a non-binding offer to acquire certain Enterprise, Government and Wholesale (EGW) assets and associated fixed infrastructure assets, including wholesale broadband business Vision Network. Shares of TPG Telecom ended 11.6% higher at A$5.600 after resuming trading, marking their biggest intraday jump ever and finishing the day at their highest closing level since May 15. TPG Telecom said it has provided Vocus exclusive due diligence, which is set to expire on September 6. A spokesperson for Vocus said "discussions with TPG are confidential, subject to conditions and regulatory approvals. ($1 = 1.4977 Australian dollars)Reporting by Sameer Manekar in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.
Persons: Vocus, Sameer Manekar, Sonia Cheema Organizations: TPG, TPG Telecom, Enterprise, Government, Wholesale, Vision, Telstra Group, Telstra, Vision Network, Australian Financial, Asset Management, Thomson Locations: Macquarie, Vocus, Bengaluru
BENGALURU, May 17 (Reuters) - Indian networking solutions provider Sterlite Technologies Ltd (STTE.NS) swung to a fourth-quarter profit on Wednesday, aided by strong growth in its mainstay optical networking business. The company's consolidated net profit stood at 650 million rupees ($8 million) for the quarter ended March 2023, compared to a net loss of 220 million rupees a year ago, it said in an exchange filing. Consolidated revenue from operations jumped 25% to 18.72 billion rupees, the company said. Optical networking business, which contributed a hefty 80% of the company's topline, grew 40% to 15.05 billion rupees. Additionally, the company declared a final dividend of 1 rupee per share and approved fundraise of up to 10 billion rupees.
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