In Vodafone (VOD +2.6%) updates today, Australia's TPG Telecom (OTC:TPPTY) has filed proceedings with the country's federal court looking for orders that a proposed merger with Vodafone Hutchison Australia won't lessen competition.
Australia's competition regulator earlier this month said it would oppose the A$7.7B deal as it would "substantially" reduce competition, since it would preclude TPG becoming a fourth player in wireless.
Meanwhile, the European Commission gave a 10-day extension to its review of Vodafone's acquisition of assets from Liberty Global (NASDAQ:LBTYA). That moves the new deadline to July 23.
HSBC today upgraded Vodafone to Buy in large part due to thorny catalysts that it said were now behind the company, with the Liberty deal completion yet to come.
Subscribe for full text news in your inbox