A woman holds her phone as she walks past an advertisement for Australia’s TPG Telecom Ltd to the city of Sydney, Australia, April 12, 2017. (REUTERS photo/Steven Saphore
SYDNEY (Reuters) – An Australian Federal court judge said on Thursday agreed to A$15-billion ($10.1 billion), and a merger with a local joint venture between the uk’s Vodafone Group PLC, the internet service provider, TPG Telecom, Ltd., would not be diminished by the competition.
The decision seems to be to overturn a decision made by the anti-trust regulator, the Australian Competition and Consumer Commission (ACCC), which has blocked the proposed deal from last year.
The ACCC was said to be a co-operation between the two companies would be discouraged, Vodafone, Australia’s largest mobile-phone company, with the introduction of the internet and discourage you from TPG to build a cell phone network.
However, a merger between the two would not substantially lessen competition”, the Federal court judge John Middleton said in a television statement.
Vodafone’s Australian joint-venture partner, Hutchison Telecommunications and TPG Telecom were both in a trading halt on Thursday.
Reporting by Byron Kaye; Editing by Sandra Maler and Jane Wardell