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News list for tpg receives tick from us for vodafone australia merger

News list for tpg receives tick from us for vodafone australia merger


/Submarine cable between Australia and Guam means the proposed merger between TPG and Vodafone Australia needs US sign-off. A month after the Federal Court of Australia approved the merger of TPG and Vodafone Hutchison, the transaction has received the tick of approval from US regulators. US approval was needed as one of TPG's subsea cables passes through the US territory of Guam. "The company has received required consents from both the Committee for Foreign Investment in the United States (CFIU...
/As the two telcos head to the Federal Court of Australia to push for their merger to be given the green light. The Australian Competition and Consumer Commission (ACCC) has held firm on its position to block the proposed merger between TPG and Vodafone Hutchison Australia (VHA), saying effective merger control in general is fundamental to a successful market economy.Speaking at the 2019 Competition Law Conference in Sydney on Saturday, ACCC Chair Rod Sims expanded on what he has said previously,...
/Following the ACCC rejecting its deal, Vodafone and TPG will file in Federal Court for approval. Huawei ban sees TPG end rollout of Australian mobile networkAustralian telco says the lack of a clear upgrade path to 5G will see it end its network rollout.Vodafone Australia and TPG are heading to Federal Court to seek approval for their merger, following the decision of the Australian Competition and Consumer Commission (ACCC) to oppose the deal on Wednesday. Chief Executive of Vodafone Hutchison ...
/After three weeks of evidence and four months of consideration, Justice Middleton has ruled that the proposed merger between Vodafone and TPG can proceed. Image: Asha McLean/ZDNet TPG's elusive chairman, CEO and largest shareholder, David Teoh, said building a fourth mobile network wasn't financially viable. Vodafone said the proposed merger would create a stronger third mobile network business in Australia, enhancing competition, while the ACCC said blocking the merger would result in TPG buil...
/While the mobile network abandonment brought down TPG’s Q1 results, the telco also made less revenue thanks to the broadband market erosion caused by the NBN rollout. TPG has reported its net profit for the first quarter of FY19, just AU$47 million, a decrease of 76 percent year on year following the abandonment of its mobile network rollout. Revenue was down by 1.5 percent to AU$1.2 billion, while earnings before interest, tax, depreciation, and amortisation (EBITDA) sat at AU$420 million for t...
/It also argued that it has insufficient spectrum to roll out mobile networks the same way as Optus and Telstra. In a bid to overturn the Australian Consumer and Competition Commission's (ACCC) decision to block the TPG-Vodafone Australia merger, TPG has doubled down on its claims that the Huawei ban has prevented the telco from being able to roll out a competitive mobile network.executive guide What is 5G? Everything you need to know about the new wireless revolution It's a capital improvement p...The company expects FY20 to be the peak year for experiencing market erosion from the NBN rollout. Huawei ban sees TPG end rollout of Australian mobile networkAustralian telco says the lack of a clear upgrade path to 5G will see it end its network rollout.TPG has revealed its net profit for the 2019 financial year dropped by 56% compared to last year, from AU$397.5 million to AU$175 million, laying the blame on the telco's abandonment of its mobile network rollout.As a result of the mobile netwo...
/Competition watchdog will not require dark fibre providers and NBN aggregators to report pricing data. (Image: Chris Duckett/ZDNet) The Australian Competition and Consumer Commission (ACCC) will not demand that dark fibre and National Broadband Network (NBN) wholesale aggregation service providers hand over pricing and supply data, after saying on Thursday it was happy with the level of competition. "The ACCC considers that competition in the market for NBN aggregation services is developing as...
/New provisional date to be set once information from telcos is received by the ACCC. The date for the Australian Competition and Consumer Commission (ACCC) to make a provisional decision on the merger of TPG and Vodafone Australia has been pushed out again, this time with no guidance at all. executive guide What is 5G? Everything you need to know about the new wireless revolution It's a capital improvement project the size of the entire planet, replacing one wireless architecture created this ce...
/Vodafone Australia is sitting around the level of Aussie Broadband and MyRepublic in the latest ACCC Wholesale Market Indicators Report. (Image: ACCC) The Australian Competition and Consumer Commission (ACCC) has provided some insight into what technologies customers on Vodafone are using to connect to the National Broadband Network. The latest Wholesale Market IndicatorsReport to the end of March shows Vodafone has just under 17,000 fibre-to-the-premises customers, 2,650 on fibre-to-the-baseme...May 9 will see the ACCC’s draft decision be finally handed down on whether TPG and Vodafone will be allowed to merge. The Australian Competition and Consumer Commission (ACCC) has set a new date for its provisional decision on whether TPG and Vodafone Australia will be allowed to merge, with the verdict to be handed down on May 9. The new date follows another delay from the ACCC at the end of February, when it backed out of making the decision on March 28. The regulator had been due to hand down...
/Consumer watchdog rejects deal to create new telco worth AU$15 billion. Image: Asha McLean/ZDNet The Australian Competition and Consumer Commission (ACCC) has opposed the merger between TPG and Vodafone Australia. The decision appeared in a short statement on the consumer watchdog's site. "This information was inadvertently published online on our mergers register briefly this afternoon," the Commission said. The decision had previously been delayed due to a lack of information from the parties...Australia will have a strong third telco just as 5G arrives, the Vodafone Australia CEO has said. Vodafone Australia CEO Iñaki Berroeta said the Federal Court ruling on Thursday to approve its merger with TPG has removed uncertainty, meaning Vodafone will accelerate the delivery of 5G technology to its consumers as well as better target commercial customers. "I'm delighted with the decision", said Berroeta. "We are confident that this is a good outcome for the market". During a press briefing so...
/The ACCC has painted TPG as a fiefdom run by David Teoh with poor governance and a lack of real documentation. TPG's founder, executive chairman and CEO David Teoh, was put under the microscope by Michael Hodge QC, counsel for the Australian Competition and Consumer Commission's (ACCC), during the third day of the Federal Court case on Vodafone and TPG's blocked merger. Through detailed questioning, Hodge has painted a picture of the TPG board being largely directed by Teoh's desire to move into...VHA CEO Inaki Berroeta remains optimistic even as the company continues to report declining numbers in revenue and ARPU. Vodafone Hutchison Australia (VHA) has reported a net loss of AU$153 million for the half-year ended 30 June 2019, a further drop from the AU$92.3 million reported in the corresponding period last year. The company also reported total revenue decreased 1.7% year on year to AU$1.7 billion, while average revenue per user (ARPU) was AU$34.52, a decrease of 5.2% year on year. Howe...

News list for tpg receives tick from us for vodafone australia merger

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