Vodafone and Hutchison get thumbs up from ACCC

The joint venture proposed by the two mobile service providers has been given the seal approval by the Australian Competition and Consumer Commission (ACCC).

Vodafone and Hutchison have welcomed ACCC's approval for the merger of the two mobile service providers.

The companies intend to complete the merger transaction within the next two weeks and form a joint-venture that will be known as Vodafone Hutchison Australia (VHA).

Nick Reed, CEO of Vodafone Asia-Pacific & Middle East Region and proposed Chairman of VHA, said the ACCC's decision confirmed its view that the merger will be good news for Australian customers.

"VHA will be a stronger mobile company, more competitive and more capable of providing an even better deal for customers," he said.

The joint venture will continue to market products and services under the Vodafone and 3 brands and all network arrangements, caps and plans, retail outlets and customer service capabilities will remain unchanged for the foreseeable future.

As confirmed earlier in the week, the companies' respective approaches to mobile phone and mobile broadband pricing, which allow customers to acquire devices for $0 on 24-month contracts, will remain in place for the next two years.

VHA also confirmed that all Vodafone and 3 mobile handsets and mobile broadband devices will continue to operate as normal, and all customers' phone numbers and account credits remain the same.

Nigel Dews, CEO of Hutchison Telecoms and proposed CEO of VHA, said its priority is to retain elements of both independent brands.

"The next step is to apply the combined scale and resources of VHA to deliver real benefits to all customers," he said.