Here’s what Vodafone just dropped (hint: it’s not a call)
Vodafone actually dropped… $8 billion on a merger with TPG, a major fixed-line broadband provider. The deal will help Vodafone be more competitive in Australia’s telecom market during a time where the country attempts to move to faster mobile networks.
More 5G talk… and the merger will position Vodafone to invest in 5G technology and offer faster service. Vodafone is one of the world’s most significant wireless network providers, and TPG plans to begin building a mobile network to go along with their fixed-line services. Together, the companies will be bidding on part of Australia’s 5G wireless spectrum.
Investors clearly liked it… because shares of TPG skyrocketed by 16% and Hutchinson Australia Telecommunications (who holds a stake in Vodafone Australia) skyrocketed even more by 52%. Together, the two will attempt to conquer the shifts in technology and consumer demand occurring in the “Land Down Under.”