Aug 1 Reuters Australia39;s TPG Telecom on Tuesday said it received an offer from Macquariebacked rival Vocus to buy some of its nonmobile fibre assets for about A6.3 billion 4.21 billion.

Vocus Group made an indicative, highly conditional, nonbinding offer to acquire certain of TPG39;s Enterprise, Government and Wholesale assets and associated fixed infrastructure assets, including Vision Network, TPG Telecom said.

After assessing the offer, TPG Telecom said it provided Vocus exclusive due diligence, which is currently set to expire on September 6.

Earlier in the day, the Australian Financial Review reported that Macquarie Asset Management MAM, through Vocus, was in talks with TPG Telecom to buy all of its fibre assets except mobile assets, which would create a combined entity with an A8 billion 5.35 billion to A9 billion enterprise valuation.

Shares in TPG Telecom, which jumped as much as 8 earlier in the session, were put on a trading halt pending the announcement.

1 1.4977 Australian dollars

Reporting by Sameer Manekar in Bengaluru; Editing by Sonia Cheema

Source Reuters