The rumors from Australia last week came to fruition yesterday. Vodafone Australia and TPG Telecom have agreed to combine in a merger of equals transaction worth some $15B.
Assuming the deal gets past regulators and the other usual hurdles, which it seems likely to do, the combined company hopes to use its combined terrestrial and wireless networks to better compete with Telstra and Optus as a stronger #3. Revenues on a pro-forma basis will be above AUS$6B and EBITDA of AUS$1.8B.
The ownership will see TPG shareholders own 49.9% of the company — with 17.12% in the hands of TPG Telecom founder and CEO David Teoh, while Vodafone and Hutchison each own 25.05%. The new company will keep the TPG Telecom name.
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Categories: Fiber Networks · Mergers and Acquisitions · Wireless
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