TPG Telecom Limited (ASX:TPM)
has boosted its stake in Amcom Telecommunications Limited (ASX:AMM)
to about 18.6 per cent.
TPG has also vowed to vote against Vocus Communications Limited’s (ASX:VOC)
proposed takeover of Amcom.
TPG says it supports Amcom as a standalone business and has no intention to make any counterproposal to the current offer.
TPG has already launched a $1.4 billion takeover of iiNet Limited (ASX:IIN)
A competing offer for iiNet was launched by M2 Group Limited (ASX:MTU)
earlier this week.
TPG Telecom increased its net profit by 18 per cent to $106.7 million in the first half of the 2015 financial year.