Vodafone: to merge Australian unit with TPG

(CercleFinance.com) - Vodafone has said that it is merging its Australian unit Vodafone Hutchison Australia with TPG, in a deal that will enable the new fully integrated telecommunications operator to better compete with rivals Telstra and Optus.


The merger is expected to generate substantial synergies from the combination of two complementary networks, the streamlining of costs and through cross-selling of products, the company said.

The newly-formed operator will be listed on the Australian Securities Exchange (ASX) and called TPG Telecom Limited, Vodafone said in a statement.

Vodafone and Hutchison Telecommunications will each have a stake of 25.05% in the company, with TPG shareholders owning the remaining 49.9%.

It is anticipated that the merger will be completed in 2019, subject to approval from TPG shareholders and regulatory authorities, Vodafone said.

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