<article>Australian telecoms company Vocus Group Ltd said on Monday that takeover discussions with Kohlberg Kravis Roberts &amp; Co and Affinity Equity Partners had ended.</article>

Australian telecoms company Vocus Group Ltd said on Monday that takeover discussions with Kohlberg Kravis Roberts &amp; Co and Affinity Equity Partners had ended.
The private equity players had each lodged separate but matching A$2.2 billion ($1.74 billion) bids for Australia&#8217;s fourth-biggest internet company, which had seen its share price slide in the wake of earnings downgrades.
Vocus said on Monday that after due diligence the two private equity firms advised the company they were unable to meet the board&#8217;s terms.
&#8220;Accordingly, all discussions have now ceased,&#8221; Vocus said in a statement.
Representatives at KKR and Affinity did not immediately comment.
The firms had separately offered A$3.50-per-share for the company, a price less than half Vocus&#8217;s share price a year ago.
While behemoth Telstra Corp Ltd dominates Australia&#8217;s telecommunications and internet markets, smaller rivals like Vocus have been growing and are jostling for exposure to a government-led A$40 billion ($30.44 billion) nationwide broadband network.
But Vocus has struggled to make the most of acquisitions bought in a three-year, $2.4 billion shopping spree, and the company last week issued its third earnings downgrade since November.
Reuters

Australian telecoms company Vocus Group Ltd said on Monday that takeover discussions with Kohlberg Kravis Roberts & Co and Affinity Equity Partners had ended.

Australian telco Vocus ends takeover talks with KKR, Affinity

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Australian telco Vocus ends takeover talks with KKR, Affinity

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