TPG Telecom shareholders have overwhelmingly backed the telco’s decision to merge with Vodafone Hutchison Australia, paving the way for the $15 billion deal to be completed next month.
The name change will allow Vodafone Hutchison Australia to buy all shares in TPG and land on the ASX as TPG Telecom Limited, with the listing scheduled for next Tuesday. “The merger brings together two highly complementary businesses to create a leading integrated, full-service telecommunications company with a comprehensive portfolio of fixed and mobile products for consumers, SMEs and enterprises,” he told shareholders at the meeting.“Combining the network infrastructure of TPG and VHA will enable the merged company to deliver better services and more competitive value propositions to Australian customers and become a more formidable competitor in the market.
TPG's existing operations in Singapore will be hived of into a separate company called Tuas, which will be listed on the ASX.
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