SYDNEY - Australia’s competition regulator on Wednesday said it opposed a proposed A$15 billion merger between TPG Telecom Ltd and Vodafone Group’s Australian unit, sending shares in TPG sliding to an eight-month low.
The move comes after the Australian Competition and Consumer Commission warned in December that the deal, which would re-make Australia’s cut-throat mobile phone market, may hurt competition. “This information was inadvertently published online on our mergers register briefly this afternoon. We intend to publish a further media release shortly,” the ACCC said in a statement.
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