On face value TPG entering the mobile market looks dumb. Especially with a small 2x10MHZ of spectrum allocation.. and a small a amount at 2600MHz. Vodafone buying 2x5 MHz also looks dumb.. To build an entire 700MHz network with just 2x5 MHz also seems ludicrous... One thing that does make economic sense is that a Vodafone and TPG Merger must now be a serious consideration. If the spectrum assets were combined they can build a serious network.. Individually both will have a noncompetitive network...
Merger is just a matter of time now
Spectrum, page-2
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