TPG Telecom Limited (ASX: TPM) – Stock rockets on merger discussion

TPG Telecom Limited Stock rockets on merger discussion

TPG Telecom Limited today, i.e., 22 August 2018, confirmed that they are in discussion with Vodafone Hutchison Australia (VHA) on a possible merger of the two telecommunication companies.

TPG referred it as a “merger of equals” but added that there is no certainty of the closure of the deal and terms of transactions.

Hutchison Telecom, holding 50% interest in Vodafone Hutchison Australia Pty Ltd (VHA), confirmed its awareness to the ongoing discussion between TPG and VHA in relation to a potential merger.

At present, exploratory non-binding discussions are only taking place while no commitment has been made by VHA or its shareholders.

After the announcement of exploratory discussion between these two telecom companies, TPM stock rocketed 15.2%, to $7.245 on 22 August 2018, 1:50 PM AEST.

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