Vodafone Hutchison Australia and TPG Telecom last year announced a deal to form a A$15 billion unit to take on Telstra and Optus in Australia's increasingly competitive telecoms sector. However, regulators have ruled that the merger 'will reduce competition and contestability'. – EPA pic, May 8, 2019.
AUSTRALIAN regulators today blocked a multibillion-dollar merger between Vodafone Hutchison Australia and TPG Telecom, in a surprise announcement that sent shares in the firms plunging. The companies announced last August a deal to form a A$15 billion unit to take on Telstra and Optus in an increasingly competitive telecoms sector.
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