ACCC will not appeal TPG (ASX:TPM)-Vodafone merger

Company News

by Rachael Jones

The Australian Competition and Consumer Commission will not appeal the Federal Court’s recent decision that the proposed merger between TPG Telecom (ASX:TPM) and Vodafone Hutchison Australia (ASX:HTA) would not substantially lessen competition.

The ACCC has concluded that it does not have grounds for appeal, which would require the ACCC to establish an error of law by the judge.

ACCC Chair Rod Sims: “The ACCC remains disappointed by this outcome, which has closed the door on what we consider was a once in a generation chance for increased competition in the highly concentrated mobile telecommunications market”.

Shares in TPG Telecom (ASX:TPM) are trading 9.3 per cent higher at $8.23.
 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.