TPG says that Vocus has made the offer to acquire certain Enterprise, Government and Wholesale (EGW) assets and associated fixed infrastructure assets, including wholesale broadband business Vision Network.
The combined entity will have a market value of up to US$5.9 billion according to industry sources.
TPG had operated 27,000km of metropolitan and inter-capital fibre network at the time of its merger with Vodafone five years ago. TPG was carrying A$3.6 billion in net debt as of the end of December.
Vocus, meanwhile had previously said that it is assessing strategic opportunities in the market that may “enhance its offering to customers and support its long-term growth ambitions”.
The company has been given due diligence until September 6. Its offer is conditional on completing diligence and debt financing as well as regulatory and board approvals.
Capacity will have more on this story as it develops.
