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CommBank Looks To Buy Vocus Retail

Commonwealth Bank is the latest prospective buyer to take a look at Vocus Retail, in a bid to strengthen its utilities arm.

CBA last year took a 25 per cent stake in two telcos: More Telecom and Tangerine, and started to offer broadband services through these two companies.

Vocus Retail, a division of the Macquarie-owned Vocus — purchased last year from Aware Super for A$3.5 billion — has popular budget telco brands such as Dodo and iPrimus.

It is currently on the market through investment bank UBS, and has attracted interest from AGL Energy, Origin Energy, and Aussie Broadband.

Vocus Retail is expected to sell for less than $500 million.



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