Australia’s second largest broadband provider TPG and Vodafone Group enter into a ‘merger of equals’. With a stake of 49.9% by TPG and 50.1% by Vodafone Group and Hutchinson, the new venture has a biggest individual shareholder – David Teoh who will have a 17.12% share i.e. approximately AU$2.57 billion in the business of $15 billion. Teoh is said to be appointed as the non-executive chairman of the new company whereas the present CEO of Vodafone Inaki Berroeta will hold the position of Managing Director (MD) and CEO.
Source: The Register