News Formal

Vodafone Hutchison, TPG Telecom merger approved by Australia court

  • 📰 The Straits Times
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

SYDNEY (BLOOMBERG) - Australia's federal court approved a planned A$10.9 billion (S$10.2 billion) merger of Vodafone Group's local business and phone company TPG Telecom, overturning opposition by the competition watchdog.. Read more at straitstimes.com.

SYDNEY - Australia's federal court approved a planned A$10.9 billion merger of Vodafone Group's local business and phone company TPG Telecom, overturning opposition by the competition watchdog.

In a ruling in Melbourne on Thursday , Justice John Middleton rejected that argument, saying the"proposed merger would not have the effect, nor be likely to have the effect, of substantially lessening competition." Shares in TPG surged as much as 20 per cent in Sydney following the ruling before trading up 13 per cent at 12:10 p.m. local time. Hutchison Telecommunications Ltd., home to CK Hutchison's stake in the venture with Vodafone, jumped as much as 32 per cent before trading up 21 per cent.

The proposed deal to create a technology giant selling mobile-phone and broadband services was blocked by the regulator in May.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 8. in US

United States United States Latest News, United States United States Headlines

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

Keppel associate drops merger bid to create offshore housing giantSINGAPORE - Keppel Corp said on Friday (Feb 14) that its associate company Floatel International and Oslo-listed Prosafe have dropped their bid to merge in a combination that would have created the world's largest offshore accommodation provider.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

Exclusive: Thyssenkrupp-Kone merger would trigger litigation war - SchindlerSwitzerland's Schindler will embark on an all-out legal antitrust offensive if Thyssenkrupp selects Finland's Kone as the buyer of its elevator ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

JPMorgan appoints new heads of Australia and NZ investment bankingJPMorgan Chase & Co appointed Jabe Jerram and Simon Ranson as co-heads of investment banking (IB) for Australia and New Zealand, according to an ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Australia: Shares rise on solid corporate earnings; NZ risesAustralia: Shares rise on solid corporate earnings; NZ rises.
Source: BusinessTimes - 🏆 15. / 51 Read more »