Electricity and gas company Origin Energy is mulling the acquisition of Vocus Group’s retail telecommunications business, which would instantly make it Australia’s fourth-largest internet service provider.
Electricity and gas company Origin Energy is mulling the acquisition of Vocus Group’s retail telecommunications business, in a move that would instantly make it Australia’s fourth-largest internet service provider.
Vocus’ decision to internally separate its retail business creates the potential for a sale or float.Origin is understood to be one of a handful of parties taken into a confidential n auction, with the hope that it would be able to work up a binding offer for Vocus’ owners Macquarie Asset Management and Aware Super., is running the sale process, sources said.
Sources said Vocus had structured the proposed sale to retain customer connections on a wholesale basis, and was looking for a party to look after the front end. A utility, with established customer management systems and an existing broadband business, would make a lot of sense. “Our Retail business is now in a good financial position having managed through the economic impact of NBN. It has a strong team, good assets, a market leading cost to serve and is once again performing well in market,” he said at the time.
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