The ACCC's approval, announced on 20 March 2025, follows a comprehensive review of the proposed acquisition, focusing on the competitive dynamics within the data network and connectivity services market in Australia. The ACCC concluded that the transaction is unlikely to substantially lessen competition, noting that Vocus and TPG primarily serve different customer segments. Additionally, that NBN’s enterprise ethernet product has fundamentally changed competitive dynamics by reducing barriers to entry and expansion for providers with either no or a small fibre footprint, enabling them to now compete for larger customers.
The G+T team, led by partner Elizabeth Avery, included special counsels Haidee Leung and Sarah Lynch, along with lawyers Johnathon Geagea, Kate Blocksidge, Amy Van Dongen and James Hilder. The team advised Vocus on all ACCC aspects of the transaction.
The acquisition will position Vocus as a leading digital infrastructure operator in Australia, with an extensive integrated network of high-quality subsea, metropolitan, intercapital and regional fibre with significant breadth and scale. The complementary assets will enable Vocus to deliver highly valued services to a diverse customer base and drive competition in the sector. The completion of the acquisition remains subject to other customary conditions, including approval from the Foreign Investment Review Board and U.S. regulatory authorities. Vocus anticipates finalising the transaction in the latter half of 2025.
Elizabeth Avery commented:
We are incredibly pleased with achieving a successful outcome for Vocus in this important transaction, based on compelling commercial and economic evidence.
