Vocus expressed interest to acquire assets of TPG last August and was given a deadline of 6 September to observe due diligence.

As iTWire and CommsWire reported, TPG Telecom agreed to extend the due diligence to 4 October.

In addition to the enterprise government and wholesale (EGW) and fixed infrastructure assets, Vocus also wanted to acquire TPG Telecom's wholesale broadband business Vision Network.

According to reports, the unit contributed to an estimated 18% of TPG Telecom's 2022 revenue worth $5.42 billion.

In an ASX announcement, TPG Telecom said discussions between parties remain ongoing.

"TPG securityholders should be aware that the nature of the transaction involves considerable complexity which needs time to work through and there remains no certainty an agreed transaction will eventuate. If a transaction is able to be agreed, it would also remain subject to a range of conditions, including relevant regulatory approvals."

Reuters reported that if the deal proceeds, it would create a combined entity worth $8 billion to $9 billion in valuation.

This first appeared in the subscription newsletter CommsWire on 6 October 2023.