Request for trading halt – TPG Telecom Limited
TPG Telecom Limited (TPG) (ASX:TPM) (‘the Company’) requests a trading halt to the Company’s
securities from the commencement of trading today, 13 February 2020.
For the purposes of ASX Listing Rule 17.1, TPG advises that:
1. The trading halt is necessary as the Federal Court of Australia (Federal Court) is due to
announce its decision at 10.30am on 13 February 2020 in relation to the application lodged by
Vodafone Hutchison Australia Pty Ltd (VHA) with the Federal Court seeking orders that will, if
made, have the effect of progressing the merger of TPG and VHA.
2. The Company wishes the trading halt to remain in place until the earlier of such time as TPG
makes an announcement to the market in relation to the Federal Court’s decision and the
commencement of trading on Monday, 17 February 2020.
3. The Company is not aware of any reason why the trading halt should not be granted or any
other information necessary to inform the market about the trading halt.
Please contact me if you require any further information.
courtesy of Bell Direct
( DYOR )
i hold TPM ( 'free-carried ' )
so ... they haven't walked away from the merger yet
Vodafone/TPG merger approval will deliver real benefits for
13 February 2020 –
Vodafone Hutchison Australia (VHA) welcomes the Federal Court’s decision to allow the proposed merger
with TPG Telecom to proceed.
VHA, along with TPG, will work to complete the merger so that the benefits can flow to Australian
VHA Chief Executive Officer Iñaki Berroeta said it was a great outcome for the Australian economy as it
would allow for greater investment in next generation networks including 5G.
“It’s been 18 months since we commenced the approval process for this merger and we’re very keen to
move forward and deliver these benefits as soon as possible,” he said.
“We have ambitious 5G rollout plans and the more quickly the merger can proceed, the faster we can deliver
better competitive outcomes for Australian consumers and businesses.”
Mr Berroeta said the lengthy process to obtain competition approval for the merger and the Huawei ban
had both unfortunately given “free kicks” to competitors for some time.
He said the Court’s approval had now removed that uncertainty and Vodafone could accelerate the delivery
of 5G technology to its customers (as per the attached initial rollout plan).
He said the spectrum holdings of the merged company would increase Vodafone’s network capacity and
scope for further investment.
“For the first time, Australia will have a third, fully-integrated telecommunications company,” he said.
“This will give us the scale to compete head-to-head across the whole telecoms market which will drive
more competition, investment and innovation, delivering more choice and value for Australian consumers
Mr Berroeta said the merger should be completed in mid-2020, subject to the remaining
regulatory/shareholder approvals, and any appeal by the ACCC.
“We’re looking forward to progressing our plans and will continue to keep our customers and the market
informed of our progress,” he said.
30 August 2018
VHA announces a merger of equals with TPG.
8 May 2019
The ACCC announces that it opposes the proposed merger stating that it would “reduce competition and
contestability” in the mobile services sector. It further states that if the proposed acquisition did not
proceed, there was “a real chance TPG will roll out a mobile network”.
24 May 2019
VHA, working with TPG, files a Statement of Claim in the Federal Court.
10 September 2019 - 1 October 2019
Federal Court case is heard in Melbourne.
13 February 2020
Judge hands down ruling in Federal Court.
Notes to editors
• The Federal Court Rules allow 28 days to appeal decisions of the Federal Court to the Full
• Other regulatory approvals, namely the Australian Foreign Investment Review Board (FIRB) and
the Committee for Foreign Investment in the United States (CFIUS), as well as shareholder
approvals are anticipated in the coming months.
• The attached initial rollout plan shows the 5G sites that Vodafone is planning to build in the
first phase of its rollout in Sydney, Melbourne, Brisbane, Adelaide, Perth, Canberra and the
Gold Coast. There are more than 650 sites being planned right now, with sites progressively
going live from mid-2020. Our current plan is to have several thousand 5G sites in our
network and our rollout plans will include more and more 5G sites each year in these areas.
courtesy of bell Direct
( DYOR )
i hold TPM ( 'free-carried ' )
is still subject to appeal .. but one step closer