Just to add more to the case that the ACCC will not appeal, this from the AFR:
"Not only did Middleton find that the merger wouldn’t substantially lessen competition – the legal hurdle a merger must pass – but he then suggested the deal would actually boost the level of competition in the telco sector."
""To leave TPG and Vodafone in their current state will not promote competition in the retail mobile market,” Middleton said"
It's not just the number of competitors that's important, it's the strength of competition that also matters. Vodafone is has a terrible balance sheet and too much debt, while TPG has an enormously risky proposition to build out a mobile network from scratch without Huawei.
Together, they will be better able to challenge Telstra and Optus and make better offerings.
TPM Price at posting:
$8.15 Sentiment: Buy Disclosure: Held
