Vodafone Hutchison Australia (VHA) and TPG Telecom completed an AUD15 billion ($10.5 billion) merger, a move designed to create a full service operator which comes nearly two years after the pair commenced the process.
In a statement, VHA said the merged entity was submitted to the Australian Securities Exchange and will trade under the TPG Telecom banner, but continue to use individual branding.
Vodafone and Hutchison Telecommunications (Australia) own 25.05 per cent apiece in the combined entity, with TPG the remaining 49.9 per cent
The tie-up was first announced in August 2018 with a year-end completion expected. But the Australian Competition and Consumer Commission (ACCC) blocked the merger, citing concerns over the competitive impact on the mobile market and urging TPG to deploy its own wireless network.
In February, the Federal Court of Australia rejected the ACCC’s concerns and approved the merger, which was then cleared by US watchdogs and TPG shareholders.Subscribe to our daily newsletter Back