merger, page-6

For the record, VHA are making massive gains in market share. Six months to Dec 09 they gained 585,000 customers. For the three months to Mar 10 they gained another 490,000 customers. At this rate they will overtake Optus as the #2 mobile provider by the end of the year (assuming Optus is still adding customers at their previous rate).

Recent price cuts for broadband customers, and introduction of Unlimited calling, should see subscriber numbers accelerate even faster as Optus and Telstra have not responded.

The Full Year announcements will be very interesting. VHA is really a company to watch as its very aggressively gaining market share - but this will impact on its profitability and margins. How badly, we wait to find out.

The shareh