Challenger brand TPG and Vodafone have held talks to potentially combine the two Australian telcos.
TPG has held “exploratory discussions” with Vodafone Hutchison Australia (VHA) regarding a “potential merger of equals”, the company announced today in ASX statement.
The AFR reported, TPG and Vodafone have both hired bankers and lawyers as they explore a deal which could “create a $10 billion-odd provider of telecommunications services to Australian customers.”
In a response to media speculation, TPG released an ASX statement this morning confirming the talks in accordance with its disclosure obligations.
“The TPG Board notes that there is no certainty that any transaction will eventuate or what the terms of a transaction would be,” the TPG statement reads.
VHA is a 50:50 joint venture between Vodafone and Hutchison Telecommunications. The former also released a statement confirming the talks, noting “there is no certainty that any transaction will eventuate or what the terms of a transaction would be.”