SYDNEY (Reuters) – An Australian court on Thursday approved a A$15 billion ($10.1 billion) merger between a local arm of Britain’s Vodafone Group and internet provider TPG Telecom, overruling an earlier move by the antitrust regulator to block the deal.
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
The Federal Court ruled that the tie-up between Vodafone’s local joint venture partner, Hutchison Telecommunications (Australia) Ltd, and TPG would not harm competition.
That trumped last year’s negative decision by the Australian Competition and Consumer Commission (ACCC) and revives a plan to challenge the dominance of Telstra Corp Ltd and Singapore Telecommunications’s Optus in the Australian market.
“The proposed merger would not have the effect, nor be likely to have the effect, of substantially lessening competition in the supply of retail mobile services…
Source Reuters Tech News