Vocus Snubbed by Private Equity; FVE Under Review Given Mystery of What Was Under the Bonnet
We place narrow moat-rated Vocus under review, following the decisions by Kohlberg Kravis Roberts, or KKR, and Affinity Equity Partners not to proceed with their separate proposals to acquire the group. The announcement comes just three days after Vocus flagged a AUD 1.5 billion impairment charge to the previous AUD 3.0 billion of goodwill on the balance sheet, and merely two days ahead of the company's fiscal 2017 results release. As such, it raises significant concerns regarding the quality of...Vocus Group is a telecommunications provider, providing telecommunications and other services to customers across Australia and New Zealand.
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