Vocus Communications has reported a net loss of $1.46 billion after making heavy write-downs on goodwill for some of its recent acquisitions and abandoned paying a dividend to redirect funds to projects and debt reduction.
Investors have dumped shares in Vocus after Australia's fourth-biggest telco ended a $2.2 billion bidding war for the company, saying the two suitors were unable to support the buy on the board's terms.
Asian private equity firm Affinity Equity Partners has made a $2.2 billion offer for Vocus Communications, rivalling a similar bid from US private equity giant Kohlberg Kravis Roberts.
Two competing subsea cables are set to be built between Perth and Singapore after Vocus Communications finalised construction contracts this week, coinciding with a Telstra-led consortium striking an agreement with the same builder.
Vocus Communications appears set to deliver the Perth-to-Singapore subsea telecommunications cable after inking a construction agreement with French company Alcatel Submarine Networks.
Vocus Communications shares have plunged more than 20 per cent after Australia's fourth biggest telecommunications group delivered a grim trading update following its rapid expansion.
Vocus Communications boss Geoff Horth has survived a proposal to remove him from the helm of the firm by Perth venture capitalist Anthony Grist and Vocus founder James Spenceley.
The competition watchdog says it won't oppose Vocus Communications' proposed acquisition of Nextgen Networks, plus two development projects, for up to $861 million.
Venture capitalist Anthony Grist has raised almost $10 million joining fellow board member and his private investment partner James Spenceley in selling down stakes in Vocus Communications to focus on the next generation of investments.
Deal hungry Vocus Communications is buying a Nextgen Group subsidiary, plus two WA-focused development projects, for up to $861 million to bolster its telecommunications infrastructure and earnings pipeline.
SPECIAL REPORT: The ubiquitous influence of the internet in modern business has brought an uptick in investment in Perth's data storage capacity, and into new high-speed subsea cables.
A joint venture between Nextgen Group and Vocus Communications is considering plans to construct a submarine telecommunications cable between Perth and Singapore.
ASG Group has announced a new $40 million contract with Western Power, joining Zetta Group and Nextgen Group in winning new information and communications technology contracts with the utility.
Telstra has won a contract to build a 500-kilometre subsea telecommunications cable for Chevron in an effort to improve communications across the company's projects in the state's north-west.
Interest in a takeover of Perth-based Amcom Telecommunications is heating up with telecommunications heavyweight TPG Telecom emerging as a potential suitor.
Nextgen Group will start building its $120 million subsea cable in the Pilbara in December with a final completion date set for the first half of 2016.
One of three companies pushing to build a subsea cable from Perth to Singapore has started reserving material for construction, indicating its confidence in a positive outcome from current commerci
Nextgen Group has signed a deal with oil and gas giants Shell and Inpex under which the communications company will build a fibre optic cable to service operators in the state's north-west.
A defining milestone in competing efforts to build a subsea telecommunications cable from Perth to Singapore may be imminent, with one of the players close to snookering the opposition.
One of Australia's most successful information technology entrepreneurs has strengthened his business case for building a submarine cable from Perth to Asia.
Financial commitment from Asian investors has prompted an east coast-based technology company to reveal plans for a subsea telecommunications cable link from Perth to Singapore.
