Home Business NewsBusiness What we know about Vodafone-TPG’s $15bn merger

What we know about Vodafone-TPG’s $15bn merger

by Purvai Dua
30th Aug 18 8:00 am

Australia’s TPG Telecom Ltd has agreed to a merger with Vodafone Group’s Australian business for a single $15bn telecommunications company to take on bigger rivals Telstra Corp Ltd and Optus.

Iñaki Berroeta, the chief executive of Vodafone Australia told the media: “The combination of the two companies will create an organisation with the necessary scale, breadth and financial strength for the future. The equal terms of the combination preserves the competitive strengths of the two businesses, meaning a sustainable long-term fixed/mobile competitor to Telstra and Optus.”

The deal is expected to be completed next year, after approval from regulators and the competition watchdog.

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