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!

Error: Please check your email address.

Tags amcomVocus chief executiveJames SpenceleyoptusTelstra

Featured

Slideshows

Sizing up the NZ security spectrum - Where's the channel sweet spot?

Sizing up the NZ security spectrum - Where's the channel sweet spot?

From new extortion schemes, outside threats and rising cyber attacks, the art of securing the enterprise has seldom been so complex or challenging. With distance no longer a viable defence, Kiwi businesses are fighting to stay ahead of the security curve. In total, 28 per cent of local businesses faced a cyber attack last year, with the number in New Zealand set to rise in 2017. Yet amidst the sensationalism, media headlines and ongoing high profile breaches, confusion floods the channel, as partners seek strategic methods to combat rising sophistication from attackers. In sizing up the security spectrum, this Reseller News roundtable - in association with F5 Networks, Kaspersky Lab, Tech Data, Sophos and SonicWall - assessed where the channel sweet spot is within the New Zealand channel. Photos by Maria Stefina.

Sizing up the NZ security spectrum - Where's the channel sweet spot?
Show Comments