Vodafone Hutchison Australia (VHA) has posted a half-year loss of more than AU$150 million (US$103.1 million), in its first financial results since the competition watchdog made its decision to block the proposed AU$15 billion (US$10.5 billion) merger TPG Telecom.
But the company insisted performance had remained “stable in the face of significant headwinds,” and stated it was committed to the merger, which remains a possibility pending the outcome of a Federal Court challenge.
In the six months to June, VHA reported a loss of AU$153.4 million (US$105.4 million), a 66% increase on the same period last year, when losses were just AU$92.3 million (US$63.4 million). The company is yet to turn a profit since it was established 10 years ago.
The firm, a joint venture of Hong Kong-based CK Hutchison and UK-based telecom giant Vodafone Group, saw revenue fall 1.7% year on year to AU$1.738 billion (US$1.19 billion). Average revenue per user (ARPU) per month, a key measure for telco companies, also fell more than 5% to AU$34.52 (US$23.72).
Full Content: The Australian
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
FCC Votes to Restore Net Neutrality Rules
Apr 25, 2024 by
nhoch@pymnts.com
Apple Rejects Spotify’s Updated App Over In-App Pricing Disclosure
Apr 25, 2024 by
CPI
FCC Set to Reinstate Net Neutrality Rules Today
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI