Are you sure?

Vodafone, Hutchison to merge Australia businesses

  Global mobile phone companies Vodafone and Hutchison Whampoa have agreed to merge their Australian businesses into a 50-50 joint venture, the two firms said in a statement on Monday.

The new joint venture, VHA Pty Ltd, would result in a deferred payment to Vodafone of A$500 million ($338 million), the statement said. The units being merged were Vodafone Australia Ltd and Hutchison 3G Australia Pty Ltd, a unit of Hutchison Telecommunications (Australia) Ltd. (Reuters)