Blocked Aussie deal is a sign of antitrust times, says ClaraMarquesRTR:
The Australian Competition and Consumer Commission said on May 8 that it would oppose the proposed A$15 billion merger between TPG Telecom and Vodafone Hutchison Australia, arguing that the local mobile and fixed broadband markets were already concentrated.
The agency said the deal would “reduce competition and contestability in this sector”, especially as it would preclude TPG from becoming the country’s fourth mobile operator. TPG said in January that it had stopped construction of its mobile telephone network because it relied on Huawei equipment, banned by Australia.TPG shares fell 13.5 percent on the day, to end at A$6.07 while those of Vodafone joint venture partner Hutchison Telecommunications tumbled 28 percent to A$0.115.
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