Quadrangle outbid for Oz AAPT
TMT specialist Quadrangle Group has emerged as the private equity firm bidding for AAPT, an Australian carrier network operator owned by Telecom New Zealand, but saw its bid trumped by Australia's TPG Telecom.
TPG - unrelated to TPG Capital - has apparently been selected as preferred bidder for the asset after submitting an approach in the $400 million range. Other competing bidders included Optus (an Australian...
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