I think your right TPG move is force vodafone to JV with them.
As the threat of TPG to vodafone is higher than optus and telstra.
In the past Vodafone would not cede mobile to TPG. But if pressure is on they will make an economic decision at the time before its too late.
Vodafone probably didn't want to previously as there was no need or risk. But given TPG becomes a bun fight at the bottom and middle range spend vodafone is highly exposed.
Half of something big is better than the whole of something a lot smaller over time.
If the deal is done with Vodafone. The market will love it. Vodafine have infrastrucure and TPG can complete the last mile and knock out optus on the coverage and close the gap on Telstra.