Global: Vocus Group Secures Final Government Approval for A$5.25 Billion TPG Telecom Asset Deal

Macquarie-backed Vocus Group has received the final regulatory green light for its A$5.25 billion (US$3.42 billion) acquisition of TPG Telecom’s enterprise, government, and wholesale fixed-line and fibre infrastructure assets, TPG Telecom confirmed on Monday.

The acquisition, originally announced in 2024, had previously received clearance from Australia’s competition watchdog in March. With Monday’s approval from the Foreign Investment Review Board (FIRB), the deal has now secured all required regulatory permissions and is set to proceed.

Once completed, the transaction will significantly boost Vocus’s position in the Australian telecommunications landscape, giving it ownership of one of the largest underground fibre networks in the country. The expanded infrastructure will enable Vocus to connect nearly 20,000 buildings across Australia, enhancing its service capacity in enterprise and government markets.

The strategic acquisition underscores growing consolidation within Australia’s telecom sector, particularly in fibre and fixed-line infrastructure. It also reflects investor confidence in Vocus’s long-term growth potential under Macquarie’s ownership.

Following the announcement, TPG Telecom’s shares closed flat on the day, while the broader ASX 200 index slipped 0.2%.