Vodafone Pacific (VP) said it submitted $11 billion proposal to a...
Vodafone Pacific (VP) said it submitted $11 billion proposal to acquire Cable & Wireless Optus (CWO), 2nd largest wireless operator in Australia. Combined entity would have 51% of Australian market. As part of deal, VP told Australian Competition &…
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Consumer Commission it would sell one million customers to rival Hutchinson Telecommunications to allay anticompetitive concerns. Transfer of customers would reduce new entity’s market share to 43% and increase Hutchinson’s to 10%. Proposal to acquire CWO is to be funded primarily by issuance of Vodafone Pacific shares. Discussions between VP and CWO remain at an early stage with no announcements were expected for several weeks, Vodafone Group said.