Telecommunications provider TPG Telecom has reported a fall of 56% in net profits for the financial year 2019 compared to last year, with the company attributing the fall from $397.5 million to $175 million to its being forced to give up plans for a mobile network.
New Zealand infrastructure fund Infratil says it is in talks with the Vodafone Group to buy the company's New Zealand business, along with another unnamed party.
Both TPG Telecom and Vodafone Hutchison Australia will make sufficient concessions to the ACCC that would see TPG remaining in the market as a price-fighter brand, well-known telecommunications analyst Paul Budde says, three days ahead of the date on which a final decision on the proposed merger between the two companies is due to be handed down.
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