Vodafone TPG merger gets FIRB nod
The proposed merger between Vodafone Australia and TPG Telecom has received the green light from the Foreign Investment Review Board, taking it another step closer to completion.
The $15 billion merger was given the go-ahead in February by the Federal Court.
Competition watchdog ACCC, which had initially opposed the combination, announced in March it would not appeal the decision allowing the deal to proceed.
The combined business would be the third-largest telecoms player in Australia, with the ability to better take on Telstra and Optus.
Vodafone Hutchison Australia (VHA) chief executive Inaki Berroeta said the two companies were progressing plans to complete the merger by mid-2020.
VHA was working to finalise all other processes required for its listing on the ASX and expected the merger to be completed midyear and with an effective date in the first half of the year, Vodafone said in a statement.
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