Telecommunications

Vodafone Australia and TPG announce $15bn merger

Union of equals could provide a serious rival to Telstra and Optus and help lower prices

Vodafone Australia and TPG Telecom have agreed to merge into a single $15bn telecommunications company that could provide a serious competitor to Telstra and Optus and help lower prices for consumers.

The two companies confirmed to the Australian Securities Exchange on Thursday that they plan an all-stock merger-of-equals after discussions last week.

Related: Telstra to cut 8,000 jobs in major restructure

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