Menu
Vocus and Amcom compare notes on $1 billion merger

Vocus and Amcom compare notes on $1 billion merger

The merger would create Australia's third largest corporate telco

Vocus Communications CEO James Spenceley.

Vocus Communications CEO James Spenceley.

Vocus and Amcom are set to compare notes as they examine a potential $1 billion merger.

The two Telcos are set to enter into exclusive due diligence following a takeover bid from Vocus.

A merger between the two would make the combined company the third largest provider corporate telecommuncations in Australia, behind Optus and Telstra.

The merger talks started after Vocus acquired a 10 per cent interest in Amcom.

Vocus subsequently approached Amcom with the aim of arriving at an agreement under which Amcom's board would recommend the acquisition by Vocus of all the outstanding shares in Amcom not already held by Vocus, according to a company statement.

"Vocus and Amcom have since had ongoing discussions and arrived at an agreed basis for undertaking mutual confirmatory due diligence.

"Vocus notes there is no certainty that a transaction will eventuate, and the parties will update their respective shareholders when in a position to do so.

Vocus chief executive, James Spenceley, supported the potential merger in a statement.

“We are pleased with the constructive ongoing discussions with Amcom and remain committed to progressing this exciting transaction for the benefit of all stakeholders, including shareholders, customers and employees,” he said.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags TelstraoptusJames SpenceleyamcomVocus chief executive

Events

Why experience is the new battleground for partners

Join us for an exclusive webinar, in association with Hewlett Packard Enterprise and Technology Services Industry Association (TSIA) and learn about the latest industry insights and how technology services continue to evolve to deliver differentiated value, and how partners can be successful in 2021 and beyond.

Featured

Slideshows

Channel kicks 2021 into gear as After Hours returns to Auckland

Channel kicks 2021 into gear as After Hours returns to Auckland

After Hours made a welcome return to the channel social calendar with a bumper crowd of partners, distributors and vendors descending on The Pantry at Park Hyatt in Auckland to kick-start 2021.

Channel kicks 2021 into gear as After Hours returns to Auckland
The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

Hundreds of leaders from the New Zealand IT industry gathered at the Hilton in Auckland on 17 November to celebrate the finest female talent in the Kiwi channel and recognise the winners of the Reseller News Women in ICT Awards (WIICTA) 2020.

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards
Leading female front runners honoured at the 2020 Reseller News Women in ICT Awards

Leading female front runners honoured at the 2020 Reseller News Women in ICT Awards

The leading female front runners of the New Zealand ICT industry joined together for the annual Reseller News Women in ICT Awards event at the Hilton in Auckland, during which hundreds of guests celebrated 13 outstanding individuals who won awards, chosen from more than 50 finalists representing over 30 organisations.

Leading female front runners honoured at the 2020 Reseller News Women in ICT Awards
Show Comments