TPG Telecom, Vodafone Hutchison Australia merge to battle Singtel's Optus, Telstra

TPG Telecom, Vodafone Hutchison Australia merge to battle Singtel's Optus, Telstra

Two of Australia's largest telco companies are joining forces in a a landmark $15 billion merger.

The companies have confirmed to the ASX they plan an all-scrip merger of equals.

"With this merger, we will be a more formidable competitor against Telstra and Optus", TPG's billionaire founder and chairman, David Teoh, said in a statement.

The merger will join both their fixed broadband and mobile services, with TPG Australia's second largest fixed line residential subscriber base of over 1.9 million subscribers, and Vodafone is now the third largest mobile telco with their recent financial announcement listing nearly 6 million subscribers.

The new company, to be called TPG Telecom, would unite TPG - best known locally for its fixed-line broadband services, although it has also been working to build its own CBD-based 4G mobile network - with the nearly 6 million mobile customers of Vodafone Hutchison, which ranks as Australia's third-largest mobile operator.

TPG is an ASX-listed telecommunications provider and is one of the country's largest internet service providers.

The board of the merged entity will comprise Teoh, Berroeta, TPG directors Robert Millner and Shane Teoh, two nominees each from TPG and Vodafone, and two new independent directors.

The merged company will take on a "multi-brand strategy", using the Vodafone brand as well as the three TPG businesses, he added.

Hurricane Maria Caused 2975 Deaths In Puerto Rico, Independent Study Estimates
Ricardo Rosselló to ensure "full accountability" and "transparency" surrounding the death toll caused by Hurricane Maria. The researchers counted the deaths over a longer period because of how long people were without power.

The Merger with VHA represents an exciting step-change in TPG's evolution, and will benefit both our shareholders and Australian consumers alike.

The merger is expected result in "substantial cost synergies" and allow the companies to maximise opportunities to invest in 5G technology.

The merger is expected to complete next year, and is dependent on shareholder and regulatory approvals.

VHA CEO Iñaki Berroeta said that the merger will "provide stronger competition in the market and greater choice for Australian consumers and enterprises across fixed broadband and mobile".

"We will also explore likely impacts in related markets, such as spectrum acquisition markets, wholesale services, and mobile roaming".

Parallel to the merger agreement, TPG and Vodafone Australia have also signed a joint venture agreement to acquire a 5G spectrum at a federal government auction later this year.

Berroeta said: "The Australian telecommunications market is characterised by the presence of Telstra and Optus".

Related News:

  • Google redesigns Wear OS for a quicker access to notifications and more

    Google redesigns Wear OS for a quicker access to notifications and more

    There will be smart suggestions as well, which will let users find a hotel nearby or see more detailed information on the weather. Finally, the top end will give users device settings with easy access to power saving, do not disturb and Google Pay toggles.
    Trump relents under pressure, lowers White House flag again to honour McCain

    Trump relents under pressure, lowers White House flag again to honour McCain

    But farewell addresses always offer a redeeming hope, a renewable source of strength we can draw upon to get through hard times. McCain refused, and endured torture to send a message to his captors. "I thought I would do much better than I did, " he said.
    Manchester United stand by José Mourinho and see cause for hope

    Manchester United stand by José Mourinho and see cause for hope

    Manchester United slumped successive losses in the Premier League following a 3-0 defeat by Spurs at Old Trafford on Monday night. Mourinho sent out a message on Monday night by dropping Martial from the matchday squad; the forward is not injured.
  • Ariana Grande Will Perform At Aretha Franklin's Funeral

    As the sun rose on America's Motor City, the crowds were already waiting in line to say a final farewell to the Queen of Soul . The singer's gold-plated open coffin was placed on display for hundreds of grieving fans at the Charles H.
    Backed DeSantis Easily Secures GOP Governor Nod in Florida

    Backed DeSantis Easily Secures GOP Governor Nod in Florida

    Gillum had consistently trailed in the few polls on the race, but scored a boost with the endorsement of Sen. Trump-backed candidate Ron DeSantis won Florida's Republican nomination for governor on Tuesday night.
    Eddie Murphy and Paige Butcher expecting baby no 2

    Eddie Murphy and Paige Butcher expecting baby no 2

    Eddie Murphy is to be a father for a 10th time after his rep confirmed his long-term girlfriend Paige Butcher is expecting. Murphy also has son Christian, 27, with Tamara Hood, and shares daughter Angel, 11, with former Spice Girl Mel B .
  • STD Rates Continue to Climb in US

    STD Rates Continue to Climb in US

    Since 2013, syphilis cases have risen 76 percent to 30,644, while gonorrhea diagnoses have increased 67 percent to 555,608. " We are sliding backward ", Jonathan Mermin, the CDC's director for HIV/AIDS, Viral, STD and TB Prevention, said.
    99.3 per cent of demonetised currency returned to banks: RBI

    99.3 per cent of demonetised currency returned to banks: RBI

    The total value of SBNs in circulation as on November 08, 2016, post verification and reconciliation, was Rs 15,417.93 billion. This year, it transferred Rs 500 billion to the government as dividend, compared with Rs 306.6 billion a year ago.

    US Senator John McCain to lie in state in Arizona today

    Early Monday morning, the flag atop the White House was raised after an unusually brief time at half-staff in McCain's honor. He said in a statement that this week was a time to honor McCain's "remarkable life" and pay respects to his family.
  • Matt Smith cast in Star Wars: Episode IX

    Matt Smith cast in Star Wars: Episode IX

    Grant , Dominic Monaghan ( Lost ), and Naomi Ackie , who also appeared in Doctor Who as a supporting character in a 2015 episode. But Smith's a great actor, so he's no doubt capable of playing whatever Abrams has put in front of him.
    Seattle judge blocks online plans for printing untraceable 3D guns

    Seattle judge blocks online plans for printing untraceable 3D guns

    It's also worth noting that more than 1,000 people had already downloaded plans for the 3D guns before today's ruling . Lasnik said the government's actions "not only impact national security but have domestic repercussions as well".
    EA cancels remaining Madden events after fatal Florida shooting

    EA cancels remaining Madden events after fatal Florida shooting

    The FBI and Baltimore Police raided his home and interviewed family members, the agencies said on social media. Katz's court records revealed a history of mental illness.


Most liked

Elon Musk Revives Thailand Diver "Pedo" Controversy With New Tweets
Musk apologized for the earlier tweets and eventually took them down, but his Tuesday tweets are still up. Elon Musk's freakish Twitter feud with a rescue diver in Thailand may soon land him in court.

Teddy Bridgewater to be traded to Saints from the New York Jets
The Jets signed Bridgewater in the offseason and his play in the preseason made him one of the NFL's most tradable assets. The Saints' two backup QB candidates this summer were veteran Tom Savage and second-year dual threat Taysom Hill .

Federal Bureau of Investigation official disputes Trump's claim that Hillary Clinton server hacked by China
A China-Clinton story was posted Tuesday by the right-wing Daily Caller website - a story, ironically, based on information from anonymous sources.

SB 10: Reaction to California Bail Reform
California will no longer have a bail system for suspects awaiting trial beginning next year, after Democratic Gov. The bill gives officials 24 hours to determine whether other suspects should be released before trial.

There is 'no safe level of alcohol,' says huge new global study
Avoiding heart-diseases was one of the reasons the previous research advocated taking moderate levels of alcohol. Also, the study showed that the limited consumption of alcohol does little or nothing to the health.

Nigeria is home to the poorest people - Theresa May
South Africa, for so long blighted by the evils of Apartheid, is free, democratic, and home to one of the continent's largest economies.

Hatch on White House delaying McCain statement: ‘That should not have happened’
It took pressure from his staff, the public, and even the American Legion to break his silence and see the flag lowered. An actor and a former Vice President are among the people who will carry the casket of Senator John McCain .

'Scallop wars' escalate as boats ram each other in Channel
Shocking footage shared by French broadcaster France 3 shows one fishing vessel attempting to ram another during the furious sea battle.

Yaya Toure's Next Club Revealed?
West Ham were most strongly linked with Toure, with Manuel Pellegrini previously coaching the 35-year-old at City. You never know. but hopefully kolo has said to him to come to Celtic. stranger things have happened lol.

Kyrsten Sinema wins Democratic primary election for US Senate seat
On Monday, as the political world mourned McCain's death from cancer, Ward tweeted that political correctness was "a cancer". McSally and Sinema have both largely ended campaigning until after McCain's body leaves the state on Thursday.

Hawaii shuts out South Korea to win Little League World Series title
Hawaii has all of its pitching available and is the only team on the USA side of the bracket with more than one home run. Hawaii shut out Georgia 3-0 and Kea's complete game sealed its berth in the Little League World Series championship.

Diaz hits go-ahead double, Jays beat slumping Phillies 8
The oft-injured Tulowitzki has not played since July 2017, when he seriously injured his right ankle in a collision at first base. Blue Jays starter Marco Estrada (7-10) allowed five runs, three home runs among seven hits and four walks in two-plus innings.

Federer lags behind big rivals in U.S. Open betting
Still, having the quartet back on the sport's biggest stage should make for a fascinating fortnight in Flushing Meadows. It's the culmination of a five-year, $600 million project that remade the USTA Billie Jean King National Tennis Center.

Texas Man Begins Selling 3D Printed Gun Plans
The Trump administration settled the case in June, and the 3D weapon blueprints were scheduled to be posted online August 1. Defense Distributed has already received almost 400 orders since this morning, according to the Associated Press .

Donald Trump given red card by Federation Internationale de Football Association boss in Oval Office
Trump joked during the photo-op that he would not be President in 2026 but perhaps his term as could be extended. After being gifted a red card from Infantino, Trump promptly pointed it in the direction of the media.