Comms Minister Fletcher: Vodafone-TPG merger is 'positive' for competition

Communications Minister Paul Fletcher has welcomed the Federal Court's approval of the $15 billion merger between Vodafone Hutchison Australia and TPG Telecom, arguing it will create a more formidable challenger to Telstra and Optus.

"Hutchison...came into the market to launch 3G. They didn’t manage to maintain a sustainable position as a fourth entrant, just as a few years before One Tel did not manage to sustain a position as a fourth entrant," Mr Fletcher said. The Federal Court ruling led to a 11 per cent spike in shares of TPG Telecom on Thursday, and a 3 per cent decline for shares of Telstra. On Friday, TPG shares shed 1.1 per cent to close at $8.06 while Telstra shares rose 0.3 per cent to $3.77.. And the overturning by the Federal Court represents a setback for the ACCC and its chairman Rod Sims and continues a streak of losses on mergers for the regulator.

So, another round of creating monopolies which go against the interests of consumers? Lovely. 🤬

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Australian consumers may never see a fourth player in Australia's mobile market, so are we worse off?There are still fears consumers may lose out after the Federal Court approved a $15b merger between Vodafone and TPG. Starlink, OneWeb and Comcast are coming? Why would you invest if the market gets flooded........there not the salvos.
Source: abcnews - 🏆 5. / 83 Read more »

Fears mobile data prices will rise as $15b Vodafone-TPG merger given green lightA $15 billion merger between Vodafone Australia and TPG has been cleared to go ahead, after a decision in the Federal Court. I will take my home bundle plan off from TPG! Great news - Telstra are bastards.
Source: 9NewsAUS - 🏆 10. / 72 Read more »

Court clears way for $15b Vodafone-TPG mergerThe Federal Court threw out a ruling by the competition regulator that the tie-up would harm consumers. More corporate power and less competition. This is what happens when majority of people a LNP-voting corporate shills. Nooooooo
Source: smh - 🏆 6. / 80 Read more »

Teacher and student morale plummet after 'disaster' school mergerA Department of Education spokesperson said the merger of two high schools had been a challenge but was undertaken to provide the best educational outcomes for students.
Source: smh - 🏆 6. / 80 Read more »