Press "Enter" to skip to content

Antitrust Watchdog Blocked Vodafone And TPG Telecom’s Merger

The Australian Competition and Consumer Commission (ACCC) recently disclosed that it has blocked unification between Vodafone’s Australian joint venture and TPG Telecom. Reportedly, this deal was valued at about $11 Billion. The latest rejection by Australia’s antitrust regulator for an agreement between Australia’s 3rd and 4th-largest telcos, accidentally uploaded sooner than proposed, untangled the prospect of uniting TPG’s fiber and Vodafone’s mobile networks.

Vodafone largely operates a mobile phone business in partnership with Hutchison Telecommunications (Australia) Ltd. However, the firm was seen struggled with dependability. At the same time, TPG is mainly involved in an Internet business with a low-cost reputation. Both the firms proclaimed that they would challenge the latest decision. However, this would heap pressure on the development plans of both the firms, weighing particularly on TPG to continue investment in a mobile network it suspended in January 2019.

On a similar note, Norway’s Telenor ASA and Axiata Group Bhd., Malaysia’s largest wireless carrier, came into the news as they disclosed that they are in discussions to join their Asian telecommunication businesses. Reportedly, the intention behind this move by both the firms is to create a firm with about 300 Million customers in about nine countries.

The planned transaction is supposed to form a unit that holds the sales of approximately $13 Billion and earnings of almost $5.5 Billion. According to Telenor, the probable “synergies” from the agreement would amount to approximately $5 Billion, set to possess about 56.5% of the latest company. In Oslo, Telenor shares climbed as much as 5%. The latest combination would offer a stronger grip for both the firms, which have recently noted their aspirations checked in Asia. The merged firm would be the biggest mobile operator in Malaysia, uniting Celcom Axiata and Telenor’s Digi.Com, and form a worldwide top five mobile infrastructure firm.

Author Details
Sr. Content Writer At Online Industry News

With a Bachelors degree in Business & Management, Deanna is serving as a Senior Content Writer for 4 years now in our organization. She deals with writing articles and reports relating to the Business world, encompassing agreements & deals, acquisitions & mergers, stock market, cryptocurrency, and so on. In her free time, Deanna likes to read suspense and thrillers genre books as well as wander around new places with friends and family.

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *