TPG Telecom could buy Vodafone's entire Australia and New Zealand business
TPG Telecom [ASX: TPM] could buy Vodafone’s entire Australia and New Zealand operation, the Australian Financial Review reported. According to the unsourced report in the paper’s Street Talk column TPG has been mentioned as a possible buyer for Vodafone's New Zealand business, but it could now be interested in Vodafone’s entire operation.
The item noted that Vodafone Australia’s UK parent, Vodafone [LON: VOD], may be eager to exit the Australian joint venture. Hutchison Telecoms Australia owns the other half of Vodafone Australia..
The paper also noted that TPG’s relationship with Vodafone has been expanding. The companies entered an AUD 1bn (USD 770m) agreement last year under which thousands of mobile customers were moved from TPG to Vodafone’s mobile network.
Australian Financial Review