Vodafone Hutchison Australia to become TPG Telecom on Monday

published 24.06.2020 09:11

by Chris Duckett from zdnet.com
Image of article 'Vodafone Hutchison Australia to become TPG Telecom on Monday'

When complete, VHA shareholders will have 50.1% of the new company and TPG will have the remaining 49.9% of the company.

"Today is a significant milestone in the merger process and subject to final court approval, we will be bringing VHA and TPG together in two and a half weeks," Vodafone Australia CEO Inaki Berroeta said.

Must read: Vodafone Australia and TPG merger: Everything you need to know The old TPG will also be handing out a special dividend to its shareholders to lower its cash level because its net debt isn't high enough.

Shareholder approval kicks off the final stages of the merger process, with a court hearing for approval set for Friday, and Vodafone Australia to be renamed TPG Telecom Limited as the merger scheme comes into effect on Monday.

Image: TPG The name Vodafone Hutchison Australia is not long for this world after TPG shareholders approved the merger of the two telcos on Wednesday.