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Vodafone-Hutchison merger paying off

Vodafone-Hutchison merger paying off

Hutchison Telecom Australia (ASX:HTC) has revealed that its merger with Vodafone is on track to deliver synergies worth $2 billion.

At the company’s annual general meeting, CEO Nigel Dews said the combined company’s customer base grew to 6.8 billion in 2009, with 584,000 of these acquired organically during the second half of the year.

The merger also decreased operating expenditure to $455 per customer from $474 per customer for 2009, he added.

Hutchison Australia has meanwhile replaced auditors PriceWaterHouseCoopers with Deloitte, on shareholder approval.

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Tags vhasynergiesMergers and acquisitionsTelecommunications

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