TPG Telecom Limited ( (AU:TPG) ) just unveiled an update.
The Australian Competition and Consumer Commission (ACCC) has announced it will not oppose Vocus Group Limited’s proposed acquisition of TPG Telecom Limited’s fixed line business, enterprise, government, and wholesale customer base, as well as its fibre and transmission networks. The ACCC’s review concluded that the acquisition would not significantly lessen competition in the market, as Vocus will continue to face strong competitors such as Telstra, Optus, and others. The acquisition is expected to enhance Vocus’s position in supplying large enterprise and government customers while TPG will maintain its focus on the small and medium enterprise segment.
More about TPG Telecom Limited
TPG Telecom Limited is a major telecommunications company that provides fixed broadband services to consumers, businesses, and government customers. It also offers wholesale telecommunication services. Vocus Group Limited supplies fibre and network services to government, enterprise, and wholesale customers, along with communications and technology services to small and medium-sized businesses. Vocus owns a fibre network that includes domestic inter-capital transmission and metropolitan fibre infrastructure.
YTD Price Performance: 4.67%
Average Trading Volume: 100
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $5.39B
See more data about TPG stock on TipRanks’ Stock Analysis page.