TPG shareholders have voted in favour of a $fifteen billion merger with Vodafone Hutchison Australia, with a court docket hearing the only matter now amongst the two telcos coming collectively.
VHA claimed TPG’s shareholders “voted in favour of the scheme of arrangement to merge the two companies” and also to “change the enterprise title from TPG Telecom Restricted to TPG Corporation Restricted.”
TPG claimed in a economic submitting that ninety nine.ninety nine % of shareholders present voted in favour of the merger.
“Today is a substantial milestone in the merger process and matter to ultimate court docket approval, we will be bringing VHA and TPG collectively in two-and-a-half months,” VHA main government officer Iñaki Berroeta claimed in a assertion.
“The merger will create a main whole-support telecommunications service provider which will be properly-positioned to push more powerful levels of competition in the current market and supply rewards to consumers and shareholders.”
Court docket orders will now be sought at a hearing scheduled for Friday June 26 at the Supreme Court docket of NSW.
Approval then would pave the way for the merger to be powerful from June 29, along with the title adjust and suspension of TPG shares from trading less than the code TPM.
The recently-merged TPG would trade less than the ASX code ‘TPG’ from Tuesday June 30.
It would be “a house of models featuring Vodafone, TPG, iiNet, Lebara, AAPT and Internode”.