Macquarie-backed Vocus failed to acquire a 12% stake in the enterprise, government and wholesale assets from TPG Telecom for $4.21bn.

Macquarie-backed Vocus, an international telecommunications company, failed to acquire a 12% stake in the enterprise, government and wholesale assets from TPG Telecom, a telecommunications company, for $4.21bn. The proposed transaction involved considerable complexity and, ultimately, the parties have been unable to reach alignment on the operating model and commercial terms for TPG to have sufficient confidence that a successful transaction can be agreed and executed.