Mergers and Acquistions News
Categories: Telecoms
June 4th 2009, 15:30PM
Australia's competition regulator has decided not to oppose the proposed merger between Vodafone Australia and the 3G network provider Hutchison.
The Australian Competition and Consumer Commission (ACCC) carried out an extensive investigation into the deal, lasting three months.
It included the scrutiny of a number of internal company documents from both merger parties and their competitors.
Concerns had been raised that increased concentration in the country's mobile sector would result in reduced pricing pressure for retail mobile telecoms services.
However, the investigation concluded that the proposed merger would not result in a substantial reduction in competition.
"Ongoing investments are needed to meet the increased customer demand for bandwidth-hungry data services, including mobile broadband," commented ACCC chairman Graeme Samuel.
Both companies have reassured customers that they will receive the same value deals on all new and existing contracts when the merger goes ahead.
The new company is expected to be named Vodafone Hutchison Australia.
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