It has now been confirmed that the merger between Vodafone Australia Limited and Hutchison 3G Australia Pty Limited is complete, the new entity will now be referred to as Vodafone Hutchison Australia.
A statement issued by the Australian Securities Exchange this morning outlined that the deal was officially complete and as of yesterday the companies have combined, ending months of speculation and investigations from the ACCC.
Last week, Current.com.au reported that the ACCC officially gave the merger the green light, after a three month investigation was completed and it found that it would not reduce competition in the telecommunications market.
“The ACCC concluded that the proposed merger would not result in a substantial lessening of competition in the retail mobile telecommunications market,” said the ACCC in a statement.
In addition to this announcement, it was also highlighted that Kevin Russel has resigned as a director of the company.
In a statement provided after the ACCC gave the merger approval, Nigel Dews, CEO off Hutchison Telecoms commented on the new deal.
“Our first priority is to retain the best elements of both independent brands. The next step is to apply the combined scale and resources of VHA to deliver real benefits to all customers,” he said.
CEO of Vodafone Asia-Pacific and Middle East Region, Nick Read, was also excited about the merger.
“This merger will be good news for Australian customers; VHA will be a stronger mobile company, more competitive and more capable of providing an even better deal for customers,” he said.
VHA has outlined that it will continue to market products and services under the Vodafone and 3 brands and all respective network arrangements, caps and plans, retail outlets and customer service capabilities will remain unchanged for the foreseeable future.