• ACCC clears sale of TPG's fibre network and Enterprise, Government and Wholesale fixed operations to Vocus
• Transaction forms part of TPG's strategy to simplify business and streamline operations
• Other conditions, including FIRB and US regulatory approvals, required before completion

TPG Telecom Limited (ASX: TPG) has welcomed the announcement by the Australian Competition and Consumer Commission (ACCC) that it will not oppose the sale of the company's fibre network infrastructure assets and Enterprise, Government and Wholesale fixed operations to Vocus Group Limited for an enterprise value of $5,250 million. TPG Telecom Chief Executive, Iñaki Berroeta, said the ACCC clearance marks an important milestone towards completion of the transaction. He stated that the transaction forms an important part of TPG's strategy to simplify its business and accelerate the streamlining of its operating structure and cost base. Other conditions are required to be met prior to completion of the transaction, including Foreign Investment Review Board approval and US regulatory approvals.