Macquarie Infrastructure and Real Assets (MIRA) has made a A$3.4bn (€2.2bn) bid for Australian fibre network provider Vocus.
In response to press speculation, Vocus confirmed that it had received a confidential non-binding, indicative A$5.50 per share proposal from MIRA and its management funds.
The listed firm has granted MIRA due diligence access to enable MIRA to potentially put forward a binding proposal.
Vocus said any agreement would be subject to a number of conditions, including shareholder, court and regulatory approvals.
Industry observers said MIRA would be particularly interested in Vocus’ fibre network footprint. The company operates more than 30,000km of fibres across Australia and international network stretching to Singapore, Hong Kong and the US.
Vocus would complement MIRA’s investment in Axicomm, a large mobile tower operator in Australia and the Sydney-based Air Trunk, an Asia Pacific data centre developer and operators.
Vocus also owns 13 purposed build co-location data centre facilities across Australia and New Zealand, according to those sources.
The offer from MIRA is the third bid that Vocus has received in four years.
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