TPG shareholders approve merger with Vodafone Hutchison Australia

News General Australia 25 JUN 2020
TPG shareholders approve merger with Vodafone Hutchison Australia
TPG Telecom shareholders have voted in favor of the proposed merger with Vodafone Hutchison Australia (VHA). TPG shareholders approved the scheme of arrangement to merge the two companies. TPG shareholders also voted in favour of a special resolution to change the company name from TPG Telecom to TPG Corporation.

According to VHA CEO Inaki Berroeta, this vote is one of the final steps towards implementation. “Today is a significant milestone in the merger process and subject to final court approval, we will be bringing VHA and TPG together in two and a half weeks”, Berroeta said.

Dates for merger scheme implementation

Orders will be sought from the Court for approval of the Scheme at a hearing scheduled for 26 June. If the Scheme is approved by the Court, it will become effective on 29 June.

TPG shares will be suspended from trading on the ASX from the close of trading on 29 June. Also on 29 June, Vodafone Hutchison Australia plans to change its name to TPG Telecom. The new TPG Telecom will be admitted to the ASX under the code ‘TPG’ on 30 June, with trading to start on a deferred settlement basis.

The scheme will be implemented on 13 July. The new TPG Telecom will be a house of brands featuring Vodafone, TPG, iiNet, Lebara, AAPT and Internode.

Categories:

General

Companies:

Vodafone,  AAPT,  Lebara,  iiNet,  Internode,  TPG,  Vodafone Hutchison Australia

Countries:

Australia

Tags:

Shareholders & subsidiaries, M&A buyouts & divestments

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