SYDNEY: Australia’s federal court approved a planned A$10.9 billion ($7.3 billion) merger of Vodafone Group Plc’s Australian business and local phone company TPG Telecom Ltd., overturning opposition by the country’s competition watchdog.
Justice John Middleton said he disagreed with the watchdog’s ruling that the tieup would substantially reduce competition for mobile-phone services in Australia. TPG was "extremely unlikely” to roll out a new mobile-phone network if the deal was blocked, as the regulator had contended, he said.