One of the nation's most prominent investors has slammed the competition watchdog's controversial decision to block TPG Telecom and Vodafone Hutchison Australia's $15 billion merger, claiming the government influenced the regulator to protect the national broadband network.
Some analysts believe superfast 5G wireless networks being built by mobile carriers could pose a threat to the fixed line NBN. "We paid a lot of money on spectrum, we spent $100 million on this network. [The government ban on] Huawei completely put an end to the roll out," Mr Millner said. "With a ban in Australia and the US there's a lot of pressure on [other retailers] to make the equipment."Mr Millner said he was confident the decision would be overturned as the ACCC "haven't had a good track record" in fighting merger appeals in the Federal Court.
"I struggle to understand the reasons. I’ve operated in many markets ... this is unusual," Mr Berroeta said.
JennieDuke This Government? Intervene to protect the NBN? ....Are we even living in the same country, here? Auspol AusVotes2019
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TPG share price crashes as ACCC blocks Vodafone mergerThe ACCC says it will oppose the $15 billion merger of Australia's third and fourth biggest telcos, arguing consumers may end up paying higher prices for less innovative mobile plans.
Source: abcnews - 🏆 5. / 83 Read more »
ACCC blocks $15billion Vodafone-TPG Telecom merger | Sky News AustraliaThe Australian Competition and Consumer Commission has blocked a $15 billion merger between telecommunications companies Vodafone Hutchison Australia and TPG Telecom.\n\nThe decision was published online before markets closed, causing both companies’ share prices to plummet.\n\nVodafone is expected to appeal the decision.\n\n\n\n Good I agree
Source: SkyNewsAust - 🏆 7. / 78 Read more »
'Embarrassing' blunder: ACCC blocks Vodafone and TPG Telecom mergerThe ACCC has blocked the $15 billion merger of the two telecommunications companies in a shock decision accidentally released early on its website. JennieDuke Great move acccgovau 👍
Source: smh - 🏆 6. / 80 Read more »
'I haven't seen anything like it': Investors furious at ACCC merger bungle'I haven't seen anything like it': Investors furious at ACCC merger bungle over attempted TPG Telecom merger with Vodafone
Source: smh - 🏆 6. / 80 Read more »
TPG share price crashes as ACCC blocks Vodafone mergerThe ACCC says it will oppose the $15 billion merger of Australia's third and fourth biggest telcos, arguing consumers may end up paying higher prices for less innovative mobile plans.
Source: abcnews - 🏆 5. / 83 Read more »
'Embarrassing' blunder: ACCC blocks Vodafone and TPG Telecom mergerThe ACCC has blocked the $15 billion merger of the two telecommunications companies in a shock decision accidentally released early on its website. JennieDuke Great move acccgovau 👍
Source: smh - 🏆 6. / 80 Read more »
ACCC blocks $15billion Vodafone-TPG Telecom merger | Sky News AustraliaThe Australian Competition and Consumer Commission has blocked a $15 billion merger between telecommunications companies Vodafone Hutchison Australia and TPG Telecom.\n\nThe decision was published online before markets closed, causing both companies’ share prices to plummet.\n\nVodafone is expected to appeal the decision.\n\n\n\n Good I agree
Source: SkyNewsAust - 🏆 7. / 78 Read more »
'I haven't seen anything like it': Investors furious at ACCC merger bungle'I haven't seen anything like it': Investors furious at ACCC merger bungle over attempted TPG Telecom merger with Vodafone
Source: smh - 🏆 6. / 80 Read more »