Vodafone Australia & 3 merge businesses

www.WirelessFederation.com/news: Vodafone Australia Ltd. and Hong Kong-based Hutchison Telecommunications Ltd have merged their businesses. Australia has been very interesting lately, we have merged with a competitive company last Friday and formed a new company and that will forward under the name of Vodafone Hutchison Australia (VHA),” Former Vodafone Australia Chief Financial Officer (CFO) and current Vodafone Hutchison Australia board member Russell Hewitt, said. It is 50-50 % joint venture. VHA will market its products and services under the existing Vodafone brand, and retain the
exclusive rights to the 3 brand, which is owned by Hutchison. It is anticipated that Earnings per share for both Vodafone and Hutchison Australia would be enhanced by the deal. Australian dollars in revenue and will head about 6 million customers,” Hewitt said.
So that makes it quite a large company in Australia and makes it a very strong competitor trying to move into the number two position in the market place,” he added. After the merger VHA is now headed by Hutchison Australia Chief Executive Officer Nigel Dews, with Vodafone CEO Nick Read as Chairman.
Current Vodafone CFO Dave Boorman is VHA’s CFO, while Hewitt will be a non-Executive Director of VHA.
As a result of that merger I’ve moved on to the board of VHA and I get to keep my shareholders responsibility here in Fiji which I’m delighted about because we really enjoy coming to Fiji,” he added.