TPG-Vodafone merger passes foreign investment review – Telco/ISP

Victoria D. Doty

TPG and Vodafone have obtained last regulatory approval for their planned $fifteen billion merger, with the International Investment Assessment Board indicating it would not object.

Vodafone Hutchison Australia (VHA) CEO Iñaki Berroeta stated in a assertion that the FIRB approval “meant the merger course of action was now properly underway.”

“The merger is now an additional significant step nearer to actuality, and we’re progressing our programs to bring the two companies with each other mid-year,” Berroeta stated.

The merger will be set to shareholders upcoming, with a plan booklet to be “released in [the] coming weeks and submitted to TPG shareholders for approval.”

“A plan assembly will later be held for TPG shareholders to vote on the plan and allow the plan to move forward to the court for last approval,” VHA stated in a monetary filing.

“VHA is working to finalise all other processes required for its listing on the Australian Securities Exchange and expects the merger to be concluded in mid-2020 and with an helpful date in the initially 50 {394cb916d3e8c50723a7ff83328825b5c7d74cb046532de54bc18278d633572f} of the year.

“VHA will go on to hold clients and the market place knowledgeable of progress towards merger completion.”

Berroeta stated the “increased power and scale” of the merged telcos would enable “accelerate our 5G plans”.

He stated individuals and traders would in the long run advantage from the presence of a “third entirely-built-in telecommunications company” in the market place “challenging the status quo.”

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