I think it is reasonable to question the rise, TPG is close to a...

I think it is reasonable to question the rise, TPG is close to a 2 year high, and up almost 50% due to merger talks that still need approval, there is a chance it will be rejected, and if its approved its already priced pretty high on yet to be achieved synergies, and still a lot of risk with 5G rollout even with only 3 players.

Vodafone and TPG have very different cultures.

Its not downramping imo, its healthy to question the sustainability of significant rises.