Tag: tpg
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TPG makes new bid for Fairfax with $2.7 billion cash offer
A consortium affiliated with TPG Private Equity group has raised its initial offer to acquire Fairfax media after a market share rise. The offer values Fairfax at around $2.75 billion and is a 12% rise on the company’s closing share price of $1.07 last week. In early trade today, Fairfax shares rose 7% to $1.147, which represents an increase…
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TPG announces mobile network and Telstra shares drop
Telstra shares have fallen dramatically after the announcement that competitor TPG has acquired the last of Australia’s 700MHZ spectrum. 700MHZ is considered premium for mobile phone networks, as it requires fewer towers to cover a greater distance. The Australian Communications and Media Authority says TPG paid $1.26 billion for 700 MHz spectrum. This now means that there will…