Opinion: Commonsense and logic have prevailed and, once again, the Australian Competition and Consumer Commission (ACCC) has lost a major court case. The $15 billion merger of Vodafone and TPG will go ahead
The ACCC might have preferred the industry to be different. It might prefer four mobile players, or five or perhaps even a dozen to a three-carrier market – even if all the players were losing money. This is not a large market.
TPG was once highly successful but the NBN and the squeeze it has placed on fixed line businesses is steadily squeezing its margins and undermining its financial stability as the national broadband network nears completion. A much stronger third player emerges, enhancing not lessening competition, with the pathway for the delayed roll-out of Vodafone’s 5G services now clear and its ability to fund it enhanced.
The ACCC’s loss in court is the latest in a lengthening line of defeats whenever its decisions on big mergers or acquisitions are challenged.
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