Motley Fool's Article, page-8

My understanding is the ACCC expect Telstra and Optus to come to commercial network access agreements for Vodafone/TPG. If that can't be done, then the ACCC will intervene. However, I could be wrong. I'm not 100% confident on this.

I have a hard time seeing Vodafone merging with Vocus personally. The only thing they would want from Vocus is the fibre, but it's not necessarily going to be connected to their cell towers so it's not all that useful.

Vocus could never come up with the money for Vodafone (Vodafone would want cash, not scrip) unless the value of the business had deteriorated to hundreds of millions at which point it would be too late to build the missing infrastructure for mobile.

TPG are the ones who own the assets Vodafone need - they're laying the fibre to their phone towers. They own a submarine cable.

I think everything points to a TPG-Vodafone tie up in some way. Further, I believe that sooner or later Vodafone will exit the Australian market.

I don't think the ACCC would allow Telstra or Optus to buy Vodafone. A two player mobile market is not ideal, the ACCC would support the third and smallest player to give them a leg up.