Bootnote: Readers outside Australia should take note that TPG Telecommunications is not related to the USA private equity company of the same name.
Ben McIntosh, Vodafone's chief commercial officer, said in a statement sent to CNET that the merger "will create even more opportunities for us as a combined entity to drive value for Australian customers".
The "merger of equals" sees TPG shareholders take 49.9% stake while Vodafone Hutchison shareholders will hold 50.1%.
The new ASX-listed group will be named "TPG Telecom Limited" and have approximately 20 per cent of the Australian mobile market share and 22 per cent of the fixed line broadband market share.
TPG shares closed at $9.31, up more than 18% on the day and over 60% in the past month, though yesterday's close is well short of the $12.84 hit in July 2016 before a profit downgrade hit confidence in the stock because of the imminent impact of the NBN's rollout.
Vodafone, a customer of TPG's dark fibre to connect some of its base stations, has 5,000 sites, and around 6 million mobile subscribers on its LTE network. Additionally, the combined entity will benefit from revenue synergies through cross-selling of products across both VHA and TPG's corporate and consumer customer bases.
Vodafone is betting on an $8 billion merger to better compete with Australia's telecom giants as the country prepares to shift to faster mobile networks.
TPG and Vodafone said they will form a joint venture that will put in a bid for a slice of Australia's 5G wireless spectrum during an upcoming government auction.
One of Australia's most acquisition-hungry telcos, TPG, is to merge with mobile carrier Vodafone Australia. The merger is expected to be completed next year, with TPG founder David Teoh stepping in as chair of the merged group, while Vodafone's current CEO, Iñaki Berroeta will be managing director and CEO. The company will be listed on the Australian Securities Exchange and called TPG Telecom.
Now trading at 169.08p, down 2.23 per cent as of BST 11.12, Vodafone PLC (LON:VOD), like many other companies on the Index, is struggling to gain momentum as GBP strength soars.
"The equal terms of the combination preserves the competitive strengths of the two businesses, meaning a sustainable long-term fixed/mobile competitor to Telstra and Optus".
Barcelona defender Gerard Pique says that he is unlikely to be tempted into a return to former club Manchester United . The Frenchman has endured a tough start this season, as his relationship with Jose Mourinho is also under scrutiny.
Liverpool , who can not meet a fellow English club at this stage, will be grouped with one team from each of the following pots . Liverpool are joined in pot three by Schalke, Lyon , Monaco , CSKA Moscow , Ajax , PSV Eindhoven and Valencia .
But some opponents , including the ACLU, fear that these changes will result in more people being detained before trial. The clout of the Californian economy could help spur some other states, such as MA and New Jersey, to do the same.
UNRWA says it provides services to about 5 million Palestinian refugees in Jordan, Lebanon, Syria and the West Bank and Gaza. However, the statement said the United States would look for other ways to aid the Palestinians.
On Wednesday, the New York Jets send Teddy Bridgewater and a sixth-round pick to the New Orleans Saints for a third-round pick. They found a buyer in the Saints , who were looking for an upgrade at backup behind Drew Brees .
The cast and audience clearly enjoyed Prince Harry's singing and erupted into applause and laughter when he broke out into song. The Duke and Duchess were guests of honor at a charity performance of the musical to benefit the Duke's HIV charity Sentebale .
He won a Golden Globe for his performance in " Green Card ", a 1990 English-language romantic comedy co-starring Andie MacDowell. French actor Gerard Depardieu has denied a claim that he sexually assaulted a 22-year-old woman on two occasions.
While this could suggest a delayed release in October like the iPhone X past year , the analyst didn't specify an exact timeline. Plenty of Apple rumors have run rampant claiming to let fans in on what Apple will offer this year when its new devices launch.
Apple is expected to announce several different iPhones at the event, including the rumored iPhone 9 and iPhone X2. Apple has in each of the past six years hosted a press conference in early September to announce a new iPhone .
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There, "military pallbearers and band support, and a horse and caisson transport" will partake in a funeral service at the U.S. The American flag that flies above the White House was at full staff on Monday-shortly after it was lowered in honor of Sen.