UPDATED: Done deal...? Vocus buys Kiwi fibre optic firm
Vocus Communications is on the verge of confirming a deal to buy FX Networks in excess of $100m, after distancing itself from buying Orcon’s wholesale division.
Trusted Telco Review sources claim Vocus walked away from Orcon discussions late last week, and will instead turn its full focus to FX Networks, New Zealand’s only inter-city fibre optic network provider.
While the finer details of the deal remain unknown at this stage, Telco Review can confirm an announcement is imminent.
Shares of the company were halted from trading on the Australian Stock Exchange this morning following increased media speculation that a deal is imminent.
"The trading halt is requested in response to media speculation this morning and pending an announcement by the company of a possible acquisition," Vocus told Business Desk in an official statement.
Telco Review has reached out to Vocus for official comment, and will provide more updates shortly...