regulator to oppose tpg vodafone hutchison australia merger

Regulator to Oppose TPG, Vodafone Hutchison Australia Merger

Business

MELBOURNE, Australia—One of the biggest recent deals in Australia faces collapse after the country’s antitrust regulator said it would block the combination of TPG Telecom Ltd. and Vodafone Hutchison Australia.

The companies had been seeking approval to create a company with an enterprise value of about 15 billion Australian dollars (US$10.5 billion), including debt, bringing together TPG’s more than 1.9 million broadband subscribers and Vodafone’s roughly 6 million mobile-service subscribers.

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