Australia’s TPG Telecom extends due diligence period for $4 bln fibre assets offer

Australia’s TPG Telecom Ltd has extended until Oct. 4 an exclusive due diligence period granted to rival Vocus Group for the A$6.3 billion ($4.02 billion) offer for its non-mobile fibre assets.

Discussions between the parties are ongoing and incomplete and its board has not made any decision to accept any offer, TPG said on Wednesday.

“There is no certainty an agreed transaction will eventuate,” TPG added.

Reuters in August reported that TPG, one of the country’s top telecom firms, had received a non-binding offer from Vocus to buy some of its non-mobile fibre assets.