Vodafone’s merger with TPG to create ‘formidible’ competition: Lloyd

A $15 billion merger between TPG Telecom and Vodafone Hutchison Australia will combine the third and fourth largest telecommunications companies in the country. Vodafone will claim a majority stake of 50.1 per cent and TPG shareholders will own the remaining 49.9 per cent of the company, which will be relisted on the ASX as TPG Telecom Limited. Vodafone's Chief strategy officer Dan Lloyd has told Sky News Business the deal will bring together the ‘best of both worlds’ to create the most ‘formidable’ competition for Telsta and Optus. Mr Lloyd says Vodafone's ‘state-of-the-art 4G network’ is complementary to TPG’s sprawling broadband and NBN networks.

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