TPG Telecom and Vodafone Hutchison Australia in US$11b merger

TPG Telecom and Vodafone Hutchison Australia in US$11b merger

SYDNEY,. Vodafone Hutchison Australia and TPG Telecom announced plans toay to merge into a A$15 billion (RM45.3 billion) telecommunications giant to take on key rivals Telstra and Optus.

Under the proposal Vodafone Australia — owned by Hong Kong-based CK Hutchison and Britain’s Vodafone Group — will hold the majority stake at 50.1 per cent.

TPG shareholders would own 49.9 per cent of the entity which will be called TPG Telecom Limited and be listed on the Australian Securities Exchange.

— AFP