Broadband, Telecom Vocus (AUS) To Split Into Three Units, Said To Make Firm More Attractive In M&A
July 03,2019
Australian-based telecom and internet service provider Vocus Group Limited announced that it would split its business into three units, which Reuters said is seen as a move that could make the various units more attractive acquisition targets
As previously reported, Australian energy firm AGL Energy Limited (“AGL”), whose operations include competitive retail energy supply, recently conducted another round of due diligence for a potential acquisition of Vocus, but withdrew a takeover proposal after such due diligence
Vocus, among other businesses, provides consumer broadband internet service and telecommunications in Australia
Vocus would split into three units: Vocus Network Services (fiber network), Vocus Retail (reseller of broadband, mobile, voice, energy), and Vocus New Zealand (full suite of consumer services in New Zealand)
Reuters reported that analysts saw AGL as interested in Vocus’ retail business, while EQT Infrastructure was interested in the fiber business