Thursday, 13 December 2018 10:04

Vodafone says working closely with ACCC on merger issues Featured

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Iñaki Berroeta: "Customers will be the big winners of a proposed merger between VHA and TPG Telecom." Iñaki Berroeta: "Customers will be the big winners of a proposed merger between VHA and TPG Telecom." Courtesy YouTube

Vodafone Hutchison Australia says it has engaged closely with the Australian Competition and Consumer Commission about its proposed merger with TPG Telecom, providing significant information about the consumer benefits and challenges faced by providers.

In a statement, the company said it was confident the merger would go ahead in the first half of 2019, subject to approvals.

A statement of issues, as announced by the competition watchdog on Thursday morning, was a common interim step in the merger review process, setting out issues for further consultation, VHA added.

It said it would look at the issues raised by the ACCC and provide comprehensive responses in due course.

Vodafone Hutchison Australia and TPG Telecom announced a merger of equals on 30 August, with the scrip deal creating a company with an enterprise value of about $15 billion.

VHA chief executive Iñaki Berroeta said the company would continue to work with the ACCC on its review of the proposed merger.

“This proposed merger is a significant transaction, and we respect the need for the ACCC to make a carefully considered decision, so today’s announcement wasn’t unexpected,” he said.

“Customers will be the big winners of a proposed merger between VHA and TPG Telecom, and we’ll continue to engage with the ACCC as we have done over recent months.”

“Increased investment requires increased scale, and the proposed merger will enable the merged entity to take competition in the market to the next level.”

“The merged company will have significantly increased ability to invest in networks, new technologies, and competitive plans and products for Australian customers."

The merger is subject to approval by the Federal Court and TPG Telecom shareholders, as well as other regulatory approval processes.

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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