Vocus takes stake in Macquarie Telecom

Australian telco Vocus has taken a 14.5 percent stake in Macquarie Telecom, just months after acquiring fellow telco Amcom following an initial 10 percent stake in the rival company.

Vocus Communications has acquired a "relevant interest" in approximately 14.5 percent of Macquarie Telecom Group Limited.

The two Australian telcos, which are both publicly listed on the Australian Securities Exchange (ASX), told shareholders in a statement (PDF) on Friday that Vocus has no intention other than to hold the stake as a strategic investment in Macquarie Telecom.

Vocus said it acquired the relevant interest in Macquarie Telecom under a physically settled swap transaction for consideration of AU$15.63 million, payable on settlement of the swap transaction.

It is expected that Vocus will not see a material impact to its financial position, and consolidated income statements from the acquisition.

Vocus takes its stake in Macquarie Telecom less than six months after acquiring the remainder of fellow ASX-listed telco Amcom Telecommunications following an initial 10 percent stake in its former rival.