Tamar Telecom’s $3.6 billion purchase of the telecommunications firm’s US operations could bring the world’s most valuable company to its doorstep, as the firm prepares to make a formal bid to buy the remaining stake in the business.
Key points:Tamar will buy the US-based telecommunications company’s US-listed assets for $3 billion, but it won’t directly own the businesses it runsThe deal could be completed by March 2019, or by 2021Tamar’s chairman is to report back to the board in June2020Tamar said it has made a “credible” offer for the US companies and its chief executive, Craig Reynolds, said it will not be interested in the deal.
“It’s not the same as owning a company.
We’ll look at the business in the US,” Mr Reynolds said.”
The company’s chief executive and chief financial officer, Craig Kearns, said the decision to bid for the remaining US assets was made on the basis of the current market conditions.””
The question is, does it work for Tamars business, and is it right for Tamarrs business?”
The company’s chief executive and chief financial officer, Craig Kearns, said the decision to bid for the remaining US assets was made on the basis of the current market conditions.
“The market conditions have improved substantially since the recent financial crisis, which has created a new opportunity for the company and the global telecommunications industry,” Mr Kearns said.
The purchase, which is expected to close in March 2020, would give Tamar access to the US market for more than a decade and would give it an even greater stake in its US operations, as well as the global communications industry.
The deal would also give Tamarr a huge head start in acquiring new customers, and the company has said it is looking at expanding into Australia.
The sale of Tamar to a Chinese company is expected later this year.
Mr Kearns was speaking as he was scheduled to appear on the sidelines of the Sydney International Telecommunications Forum.
The company has been a major investor in Australia since it was established in 1996.
In a statement, the company said it would continue to invest in its Australian operations and build a stronger network for the long-term.
“Tamar has a long and distinguished history of building a strong Australian network that will continue to thrive,” it said.