TPG Telecom Limited (AU:TPG) has released an update.
TPG Telecom Limited has entered into a deal to sell its fibre network and EGW fixed business to Vocus Group for $5.25 billion, with a completion target for the second half of 2025. The agreement will result in Vocus providing fixed network services to TPG and is expected to generate net cash proceeds between $4.65 and $4.75 billion for TPG, which will be used for capital management and business investments. TPG’s CEO, Iñaki Berroeta, expressed that the transaction will streamline the company’s operations and create a strong enterprise connectivity challenger.
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