Anti-trust watchdog blocks $11 billion merger of Vodafone’s Australian business with TPG Telecom

SYDNEY: Australia’s anti-trust regulator blocked a A$15 billion ($11 billion) merger between TPG Telecom and Vodafone’s Australian joint venture on competition grounds on Wednesday, knocking shares in the firms involved.

The Australian Competition and Consumer Commission’s (ACCC)rejection of a deal between Australia’s third and fourth-largest telcos – accidentally uploaded earlier than expected – unravelled the prospect of combining TPG’s fibre and Vodafone’s mobile networks.

Vodafone mainly runs a mobile phone business in a joint venture with Hutchison Telecommunications (Australia) Ltd , but has struggled with reliability, while TPG largely has an internet business with a low-cost reputation.