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

Featured

Slideshows

EDGE 2018: Kiwis kick back with Super Rugby before NZ session

EDGE 2018: Kiwis kick back with Super Rugby before NZ session

New Zealanders kick-started EDGE 2018 with a bout of Super Rugby before a dedicated New Zealand session, in front of more than 50 partners, vendors and distributors on Hamilton Island.​

EDGE 2018: Kiwis kick back with Super Rugby before NZ session
EDGE 2018: Kiwis assess key customer priorities through NZ research

EDGE 2018: Kiwis assess key customer priorities through NZ research

EDGE 2018 kicked off with a dedicated New Zealand track, highlighting the key customer priorities across the local market, in association with Dell EMC. Delivered through EDGE Research - leveraging Kiwi data through Tech Research Asia - more than 50 partners, vendors and distributors combined during an interactive session to assess the changing spending patterns of the end-user and the subsequent impact to the channel.

EDGE 2018: Kiwis assess key customer priorities through NZ research
Show Comments