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Vocus Communications Ltd (VOC.AX)

VOC.AX on Australia Stock Exchange

6.23AUD
30 Sep 2016
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Wed, Jun 29 2016

Australian telecom firm Vocus buys rival, gains ground on market heavyweights

SYDNEY Australia's Vocus Communications Ltd said it plans to buy smaller rival Nextgen Networks and two undersea cable projects in a deal worth up to $640 million, as it seeks to close the gap on market leader Telstra Corp Ltd .

UPDATE 2-Australian telecom firm Vocus buys rival, gains ground on market heavyweights

* Vocus to pay as much as $640 mln for Nextgen, cable projects

Australia's Vocus announces $640 mln network acquisitions

SYDNEY, June 29 Australian telecom company Vocus Communications Ltd said Wednesday it would acquire fibre network owner Nextgen Networks and other assets from infrastructure giant CIMIC Group for up to A$861 million ($636.97 million).

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