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Australian court approves US$10 bil Vodafone-TPG merger

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The merger is expected to be completed by mid-2020. FMTNews

SYDNEY: Two of Australia’s largest telecommunications firms appear set to merge, after a court ruled on Thursday that the multi-billion-dollar deal between Vodafone and TPG would not pose a major threat to competition.

The ACCC said it believed the smaller firm could have become an “innovative and disruptive” mobile phone provider in the country’s concentrated market, which is dominated by Telstra, Optus and Vodafone Australia. “The court has come to the view that the proposed merger would not have the effect, or be likely to have the effect of substantially reducing competition … the merger can proceed,” public broadcaster ABC reported him as saying.

 

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