乐动体育电竞a

<cite id="ll1pt"></cite><cite id="ll1pt"></cite>
<var id="ll1pt"></var>
<menuitem id="ll1pt"></menuitem>
<var id="ll1pt"><strike id="ll1pt"><listing id="ll1pt"></listing></strike></var>
<var id="ll1pt"></var>
<var id="ll1pt"></var>
<var id="ll1pt"></var><var id="ll1pt"><strike id="ll1pt"><thead id="ll1pt"></thead></strike></var><cite id="ll1pt"></cite>
<var id="ll1pt"></var>
<cite id="ll1pt"></cite><var id="ll1pt"></var>
<var id="ll1pt"></var>
<var id="ll1pt"></var>
<var id="ll1pt"></var>
<var id="ll1pt"><video id="ll1pt"></video></var>
<var id="ll1pt"><video id="ll1pt"></video></var><cite id="ll1pt"><span id="ll1pt"></span></cite>
<var id="ll1pt"><video id="ll1pt"><menuitem id="ll1pt"></menuitem></video></var>
<var id="ll1pt"></var>
621x74 (2).gif

China Daily

News> Business> Content
Thursday, February 13, 2020, 12:21
Australia court backs US$10b Vodafone-TPG merger
By Reuters
Thursday, February 13, 2020, 12:21 By Reuters

This combo shows a Vodafone sign on a city store and a TPG Telecom sign adorning the side of their headquarters in Melbourne on Aug 30, 2018. Vodafone Hutchison Australia and TPG Telecom announced plans on Aug 30, 2018 to merge into an 10US$ billion unit to take on key rivals Telstra and Optus as competition heats up in the telecommunications sector. (WILLIAM WEST / AFP)

SYDNEY — An Australian court approved a A$15 billion (US$10.1 billion) merger between a unit of Britain’s Vodafone Group and internet provider TPG Telecom (TPM.AX) on Thursday, overruling a regulator and enabling a huge rival to the country’s top telcos.

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 sizeable nationwide networks.

The regulator has a month to lodge an appeal.

This merger...gives a lot more certainty that there will be a strong 5G player in the market. We have confirmation we’ll have three 5G players 

I?aki Berroeta, Vodafone Hutchison Australia CEO

TPG had been looking for a way into the highly-anticipated 5G mobile market - where Vodafone is gearing up to compete - after halting construction of its own network due to an Australian ban on parts supplied by China’s Huawei Industries.

“This merger...gives a lot more certainty that there will be a strong 5G player in the market. We have confirmation we’ll have three 5G players,” Vodafone Hutchison Australia CEO I?aki Berroeta said on a call with analysts.

TPG founder and Executive Chairman David Teoh said in a statement the company was “very pleased with the Federal Court decision” although it still needed shareholder and other regulatory approvals.

Shares of Hutchison surged as much as a quarter, while TPG shares gained 11 percent. Shares of Telstra, which dominates the Australian mobile and internet markets, had risen earlier on Thursday after it released its half-year earnings but fell up to 2.4 percent after the court ruling. SingTel’s Singapore-listed shares were down 1.2 percent.

The ruling was “consistent with our expectations and we’d already factored in a successful merger”, Credit Suisse analysts said in a note.

ALSO READ: Vodafone launches 5G network in Spain using Huawei gear

REGULATOR REBUFF

The ruling is a blow to the ACCC which has had decisions to block some of the country’s biggest M&A deals of recent years overturned by courts, including the TPG-Vodafone deal.

“Australian consumers have lost a once-in-a-generation opportunity for stronger competition and cheaper mobile telecommunications services with this merger now allowed to proceed,” ACCC Chairman Rod Sims said in a statement.

Sims added the regulator was considering the judgment.

The ACCC had argued TPG may yet build a 5G network - without Huawei parts - if it had no other option. TPG had ruled out revisiting the network on grounds that other parts suppliers were too expensive.

Speaking on a call with analysts to discuss earnings, which was held at the same time as the court ruling, Telstra CEO Andy Penn declined to comment on the effects of competition with TPG in the 5G market.

READ MORE: TPG, Vodafone Hutchison to combine for A$10.9b company

“Frankly, it’s an already incredibly, an intensely competitive market,” Penn said.

Murray King, chief financial officer of SingTel-owned Optus, said on an earnings call the company would “see how the merged entity looks to drive their operations and how they go to market”.

“We think we are well-placed but we don’t take competition lightly,” he said.

Share this story

CHINA DAILY
HONG KONG NEWS
OPEN
Please click in the upper right corner to open it in your browser !
<cite id="ll1pt"></cite><cite id="ll1pt"></cite>
<var id="ll1pt"></var>
<menuitem id="ll1pt"></menuitem>
<var id="ll1pt"><strike id="ll1pt"><listing id="ll1pt"></listing></strike></var>
<var id="ll1pt"></var>
<var id="ll1pt"></var>
<var id="ll1pt"></var><var id="ll1pt"><strike id="ll1pt"><thead id="ll1pt"></thead></strike></var><cite id="ll1pt"></cite>
<var id="ll1pt"></var>
<cite id="ll1pt"></cite><var id="ll1pt"></var>
<var id="ll1pt"></var>
<var id="ll1pt"></var>
<var id="ll1pt"></var>
<var id="ll1pt"><video id="ll1pt"></video></var>
<var id="ll1pt"><video id="ll1pt"></video></var><cite id="ll1pt"><span id="ll1pt"></span></cite>
<var id="ll1pt"><video id="ll1pt"><menuitem id="ll1pt"></menuitem></video></var>
<var id="ll1pt"></var>

手机在线娱乐赌博平台

金皇朝注册

电竞体育投注

足球盘囗

平博电竞

万福彩票网

中博的彩首页

缅甸维加斯国际

阿里彩票登录平台