Vodafone Group Plc announced that Vodafone Hutchison Australia Pty Limited (VHA) and TPG Telecom Limited (TPG) have agreed a merger to establish a new fully integrated telecommunications operator in Australia (MergeCo). Vodafone and Hutchison Telecommunications (Australia) Limited (HTAL) will each own an economic interest of 25.05% in MergeCo, with TPG shareholders owning the remaining 49.9%. The Board of MergeCo will comprise: David Teoh, as Chairman (currently CEO and Chairman of TPG), Iñaki Berroeta as Managing Director and CEO (current CEO of VHA), existing TPG directors Robert Millner and Shane Teoh, two nominees of Vodafone, two nominees of HTAL, and two new independent directors.