News: HTA UPDATE 1-Australia's TPG Telecom enters talks to buy local Vodafone-Hutchison venture

(Adds Vodafone Hutchison comment, industry background)

Aug 22 (Reuters) - Australia's TPG Telecom Ltd (TPM) has entered initial talks with Vodafone Group PLC's VOD.L local venture to explore a potential takeover of the latter, the two companies said in separate statements on Wednesday.

The venture, Vodafone Hutchison Australia Pty Ltd, is jointly owned by Vodafone and Hutchison Telecommunications (Australia) (HTA) , a unit of CK Hutchison Holdings 0001.HK .

If the deal goes through, it would represent TPG's latest effort to fend off competition from rivals such as Singapore Telecommunications' STEL.SI Optus and local major Telstra Corp (TLS) .

In 2015, TPG announced a deal to buy domestic rival internet services provider iiNet (IIN) for A$1.4 billion ($1.02 billion) to boost its broadband business and expand its presence across Australia. ($1 = 1.3669 Australian dollars)