Australia’s competition watchdog raised concerns about Vodafone Australia and TPG Telecom’s AUD15bn ($10bn) merger plans. It said it wanted more details but the Australian Competition and Consumer Commission’s Chairman Rod Sims had earlier welcomed a TPG plan to build a fourth national network, a plan which would be abandoned if the merger went ahead. Vodafone Hutchison Australia said the delay was not unexpected and it was confident the merger, to create a new firm called TPG Telecom, would still go ahead early in 2019. At the news, TPG’s share price fell to its lowest level since the deal was announced.
Australia’s competition watchdog raised concerns about Vodafone Hutchison Australia and TPG Telecom’s AUD15bn ($10bn) merger plans. It said it wanted more details but the Australian Competition and Consumer Commission’s Chairman Rod Sims had earlier welcomed a TPG plan to build a fourth national network, a plan which would be abandoned if the merger went ahead. Vodafone Australia said the delay was not unexpected and it was confident the merger, to create a new firm called TPG Telecom, would still go ahead early in 2019. At the news, TPG’s share price fell to its lowest level since the deal was announced.