TPG Confirms Merger Discussions with Vodafone
By Samira Sarraf, ARN
August 22, 2018
TPG Telecom has confirmed that it is currently in discussions with Vodafone Hutchison Australia (VHA) regarding a potential “merger of equals”.
The publicly-listed telecommunications provider told shareholders on 22 August that the TPG board “notes that there is no certainty that any transaction will eventuate or what the terms of a transaction would be”.
The telco also said that it would keep the market informed of any updates.
TPG closed the half year ending 31 January 2018 with net profit after tax of $198.7 million and earnings before interest, tax, depreciation and amortisation of $418.2 million.
TPG owns end-to-end network infrastructure which includes over 400 DSLAM enabled telephone exchanges across Australia, extensive inter-capital and metropolitan fibre optic networks, and the international PPC-1 submarine cable connecting Australia and Guam with onwards connectivity to USA and Asia.
TPG subsidiaries include AAPT, Internode and iiNet.
Hutchinson Telecoms, which has a 50 per cent interest in VHA, issue a statement saying it is aware the both telcos have been in discussions regarding a potential merger.
ARN has contacted Vodafone for comment.
Vodafone Australia had a customer base of 5.98 million customers on 30 June.