Vocus receives government nod for TPG Telecom deal

TPG Telecom said that Macquarie-backed Vocus Group has secured the final approval for its $5.25 billion acquisition of TPG's enterprise, government and wholesale fixed-line and fibre assets.

The deal, first announced in 2024, received approval from Australia's competition regulator in March, positioning Vocus as one of the country's largest owners of underground fibre infrastructure.

The acquisition will allow Vocus to connect nearly 20,000 buildings across Australia.

Monday's clearance from the Foreign Investment Review Board marked the final regulatory approval needed for the transaction to proceed, TPG said in a statement.