TPG, Vodafone head to court over failed merger

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TPG, Vodafone head to court over failed merger

TPG and Vodafone have both lodged proceedings in the Federal Court of Australia to fight the ACCC's block against their proposed merger.

Earlier this month, the Australian Competition and Consumer Commission (ACCC) knocked back the merger due to competition concerns.

In the statement of claim, TPG argued the merger will not have the effect, or likely effect, of substantially lessening competition.

“TPG and Vodafone are working together to progress the proceedings and TPG supports the orders being sought in Vodafone’s application,” TPG said in statement.

Vodafone also released a statement saying, “We believe the merger will create an entity that can compete more aggressively in the mobile market and will increase our ability to invest in networks, new technologies and competitive plans and products for Australian consumers.”

TPG and Vodafone officially announced their intention to merge on 30 August 2018 to create a $15 billion entity to compete with market leaders Telstra and Optus.

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