EQT's infrastructure fund has tabled a yet non-binding offer for Vocus Group (VOC) worth $3,3 billion, or $5.25 a share, a 35 per cent premium on Friday's price: https://www.copyright link/business/telecommunications/vocus-confirms-3-3b-takeover-bid-from-eqt-20190527-p51rgy
Now what's interesting is that EQT has a history of acquiring and merging telecom companies to unlock synergies (e.g. Broadnet/GlobalConnect last year) and further to that in the past other parties have considered combining Vocus and Amaysim.
On 28 August 2018 The Australian reported:
"This column also understands that James Spenceley was eager for the company that he co-founded, Vocus, to buy Amaysim when he was on the board about two years ago [so in 2016], but the former Vocus managing director, Geoff Horth, was against the idea."
source: https://www.theaustralian.com.au/business/dataroom/optus-reengages-with-amaysim-over-possible-merger/news-story/69b1dfe2e3a2ab51dbea6790236a3817
Another article from 11 September 2018 stated:
One possible opportunity for a buyout fund is an acquisition of New Zealand’s third-largest telco, 2degrees, along with the Vocus NZ operations and also Amaysim, taking Amaysim’s SIM-only model across the Tasman.
source: https://www.theaustralian.com.au/business/dataroom/optus-eyes-amaysim-but-rentrop-has-other-ideas/news-story/6335ba61111eb5874d498e46aaf0b611
It's pure speculation but EQT could have picked up above considerations and might be working on a wider strategy of acquiring and merging multiple telecom providers in Australia and New Zealand to unlock synergies like they've successfully done before in other parts of the world.
Add to My Watchlist
What is My Watchlist?