Discussions regarding the deal were revealed earlier in the week which saw a surge in the shares of both companies, the third and fourth largest telecommunication outfits in the country.
Ben McIntosh, Vodafone's chief commercial officer, said in a statement sent to CNET that the merger "will create even more opportunities for us as a combined entity to drive value for Australian customers".
TPG will own 49.9 percent of the business, and Vodafone's Australian unit, a joint venture with Hong Kong's CK Hutchison, will own the rest.
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Shares in TPG Telecom surged another 18% plus yesterday after the company revealed details of its planned merger with Vodafone Australia via a scheme of arrangement.
The $9.99 plan, which iTWire covered in an article "TPG to offer "free unlimited mobile data plan", which was free for the first six months and then $9.99 per month thereafter, is now not certain to proceed.
The merger brings new intensity to Australia's fiercely competitive telecommunications industry, which is dominated by market leader Telstra and rival Optus.
Vodafone has agreed a mammoth 15 billion Australian dollar (£8.4 billion) deal to merge its Australian operations with TPG Telecom.
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The merger will join both their fixed broadband and mobile services, with TPG Australia's second largest fixed line residential subscriber base of over 1.9 million subscribers, and Vodafone is now the third largest mobile telco with their recent financial announcement listing nearly 6 million subscribers.
The board will comprise the CEO and chairperson, existing TPG directors Robert Millner and Shane Teoh, two Vodafone nominees, two Hutchison Australian nominees, and two new independent directors.
The enlarged entity will take TPG's name and be listed on the Australian Stock Exchange. Vodafone will provide a guarantee on approximately A$2.4bn of this debt, lower than the approximately A$3.3 billion guarantee that Vodafone now provides for VHA's debt.
"The combination of our two highly complementary businesses and talented employees will create a more sustainable company, with enhanced capacity to invest in new technology and innovation".
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She said there's not enough protection in the law to ensure it doesn't perpetuate racial bias in the criminal justice system. The organization pulled its support for the bill earlier this month as the it underwent changes in the state legislature.
The upcoming spectrum auctions for the 5G spectrum was called out in particular, with the two companies also forming a separate joint venture "to acquire, hold and allocate 3.6 GHz spectrum".