Australian Court OKs $10B TPG, Vodafone Deal

Law360 (February 12, 2020, 11:49 PM EST) -- Australia's antitrust authority announced Wednesday that the Federal Court of Australia ruled the proposed AU$15 billion ($10.1 billion) TPG Telecom and Vodafone merger would not substantially lessen competition before going on to criticize the court's decision. 

TPG Telecom Ltd. and Vodafone Hutchison Australia Pty. Ltd. — which is backed by Vodafone Group PLC and Hutchison Telecommunications (Australia) Ltd. — had gone to the court in May to challenge the Australian Competition & Consumer Competition's opposition to the proposed merger. In announcing the court's decision, the ACCC bashed the finding.

"Australian consumers have lost a once-in-a-generation opportunity for stronger competition and cheaper mobile telecommunications...

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