SYDNEY (Reuters) – An Australian court approved a A$15 billion ($10.1 billion) merger between a unit of Britain’s Vodafone Group (VOD.L) and internet provider TPG Telecom (TPM.AX) on Thursday, overruling a regulator and enabling a huge rival to the country’s top telcos.
A woman holds her phone as she walks past an advertisement for Australia’s TPG Telecom Ltd in central Sydney, Australia, April 12, 2017. REUTERS/Steven Saphore
A Federal Court judge said a tie-up between Vodafone’s joint venture with local telco Hutchison Telecommunications (Australia) Ltd (HTA.AX) and TPG would not harm competition, rejecting the Australian Competition and Consumer Commission’s (ACCC) reason for blocking the deal last year.
The ruling revives a plan to challenge the dominance of Telstra Corp Ltd (TLS.AX) and Singapore Telecommunications’s (STEL.SI) Optus in the Australian market by giving TPG, an internet company, and Vodafone, a mobile phone company, access to each other’s…
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