Vodafone Hutchison Australia (VHA) has welcomed the Federal Court’s decision to allow the proposed merger with TPG Telecom to proceed.
VHA, along with TPG, will work to complete the merger so that the benefits can flow to Australian consumers.
VHA Chief Executive Officer Inaki Berroeta said, “It was a great outcome for the Australian economy as it would allow for greater investment in next generation networks including 5G. It’s been 18 months since we commenced the approval process for this merger and we’re very keen to move forward and deliver these benefits as soon as possible.”
“We have ambitious 5G rollout plans and the more quickly the merger can proceed, the faster we can deliver better competitive outcomes for Australian consumers and businesses,” added Berroeta.
Berroeta said that the Court’s approval had now removed that uncertainty and Vodafone could accelerate the delivery of 5G technology to its customers and the spectrum holdings of the merged company would increase Vodafone’s network capacity and scope for further investment.
“For the first time, Australia will have a third, fully-integrated telecommunications company. This will give us the scale to compete head-to-head across the whole telecoms market which will drive more competition, investment and innovation, delivering more choice and value for Australian consumers and businesses,” said Berroeta.
Berroeta said that the merger should be completed in mid-2020, subject to the remaining regulatory/shareholder approvals, and any appeal by the ACCC.