TPG Telecom gave Australia-based fibre company Vocus Group additional time to conduct due diligence regarding an AUD6.3 billion ($4.1 billion) offer to acquire parts of its enterprise, government and wholesale assets, and related fixed infrastructure.
In a stock market filing, TPG Telecom noted it extended the exclusive due diligence period from 6 September to 4 October.
It stated discussions with Vocus Group are “ongoing and incomplete, and security holders should remain aware that the board of TPG has not made any decision to accept any offer”.
TPG Telecom added any agreement on a deal would remain subject to a range of conditions, including standard regulatory approvals.
The operator previously stated it received a number of non-binding expressions of interest in its fixed network infrastructure Vision Network, after a strategic review in October 2022.
GSMA Intelligence data placed TPG Telecom on 5.3 million connections at end-June, compared with 17.4 million for Telstra and 10.3 million Optus.