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ACCC delays TPG-Vodafone decision due to lack of information

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The date for the Australian Competition and Consumer Commission (ACCC) to make a decision on the merger between TPG and Vodafone Australia has been pushed out from March 28, to potentially April 11.

In an update on the merger posted on Tuesday, the consumer watchdog said its decision will be delayed.

“Timeline suspended due to delay in receiving information from merger parties,” the ACCC said.

“New provisional decision date is expected to be 11 April 2019. The ACCC will confirm the new provisional decision date when the information from the merger parties is received.”

Last month, the ACCC said in a statement of issues that it had concerns over the proposed merger.

“Our preliminary view is that TPG is currently on track to become the fourth mobile network operator in Australia, and as such it’s likely to be an aggressive competitor,” ACCC Chair Rod Sims said at the time.

“We therefore have preliminary concerns that removing TPG as a new independent competitor with its own network, in what is a concentrated market for mobile services, would be likely to result in a substantial lessening of competition.

“If TPG remains separate from Vodafone, it appears likely to need to continue to adopt an aggressive pricing strategy, offering cheap mobile plans with large data allowances. Our preliminary view is the merged TPG-Vodafone would not have the incentive to operate in the same way.”

The ACCC said it would also look into whether removing Vodafone as a fixed broadband competitor would impact competition.

TPG and Vodafone Australia announced in August they would be creating a new entity worth AU$15 billion that would use the TPG moniker.

The new company is slated to have current Vodafone chief Inaki Berroeta serve as CEO and current TPG chief David Teoh serve as chair, as well as book revenue of AU$6 billion, earnings before interest, tax, depreciation, and amortisation (EBITDA) of AU$1.8 billion, and operating free cash flow of AU$900 million.

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ACCC has concerns over TPG-Vodafone merger

The TPG-Vodafone Australia merger decision has yet to be made, with Australia’s consumer watchdog saying it has concerns about competition that need to be addressed.

Telstra, Optus, TPG-Vodafone win 5G spectrum

Telstra paid AU$386 million for 143 lots; Optus paid AU$185 million for 47 lots; the TPG-Vodafone Australia joint venture paid AU$263 million for 131 lots; and Dense Air Australia paid AU$18.5 million for 29 lots.

TPG board avoids second strike and spill

TPG looks to have avoided a second strike and the threat of a board spill after 94 percent of proxy votes were cast in favour of its remuneration report.

TPG faces court action for allegedly misleading customers

The ACCC has alleged that TPG misled customers over a AU$20 prepayment term in its contracts, estimating that TPG likely retained millions of dollars in forfeited prepayments.

TPG takes out third NBN speed-monitoring report

The ACCC has said TPG is delivering the highest percentage of maximum download and upload speeds to its NBN customers, with Telstra retaining the lowest latency, while MyRepublic came last across most categories.

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Cars

The Best Features Of The Aston Martin Vulcan

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Although the Vulcan was specifically designed not to be road legal, one owner decided that they wanted to stick on some license plates and take it on the highway anyway. Except, it was far from that simple, as the conversion process required making some major changes to the car, and cost several hundred thousand dollars on top of the original purchase price (via Motor1). The street conversion was handled by RML Group but had full support from the Aston Martin factory, and after completion, it became the only road-legal Vulcan in existence.

Among the litany of changes required were the addition of windshield wipers, side mirrors, and a central locking system. Michelin road tires were also fitted, and a new set of headlights had to be installed to meet height requirements for British roads. The bladed tail lights were also covered over for safety, and a few of the sharper surface edges around the cabin were smoothed out. Then, the engine was remapped to meet emissions requirements, the suspension was softened, and a lift system was installed to give the car extra clearance for speed bumps. After all that, plus a few final touches, a license plate was fitted and the car was ready to go. Unfortunately, it seems like the owner’s enthusiasm for taking it on the road quickly evaporated, as checking the car’s plates against the British government database shows that its MOT (the annual national roadworthiness test) certificate expired back in January 2022.

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5 Cars Owned By Bob Seger That Prove He Has Great Taste

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Pulling into the final spot on the list is a 1969 Shelby Cobra GT350 Fastback. This particular car is unique for a few reasons. First, it was the last “new original” Shelby that Ford would produce. The GT350 and GT500 released in 1970 weren’t actually new or original but re-VIN’d production cars from the previous year. Also, during the summer of ’69, Carrol Shelby ended his association with Ford (via MustangSpecs).

It had one of Ford’s new 351 Windsor V8 engines with a 470 CFM four-barrel Autolite carburetor under the hood that pounded out 290hp and 385 lb-ft of torque. Its 0 – 60 time was a modest 6.5 seconds, and it did the quarter mile in 14.9 seconds (via MustangSpecs).

According to MustangSpecs, it was typically mated to a 4-speed manual transmission, but Seger’s had a Tremec 6-speed stick instead (via Mecum Auctions). Seger’s Candy Apple Red GT350 had Ford’s upgraded interior package, flaunting a landscape of imitation teak wood covering the dash, steering wheel, door accents, and center console trim (via MustangSpecs).

According to Mecum Auctions, Seger’s was number 42 of 935. When it sold at auction in 2013 for $65,000, it noted that it had been displayed at the Henry Ford Museum at the Rock Stars, Cars & Guitars Exhibit.

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Here’s What Made Volkswagen’s Air-Cooled Engine So Special

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Engines like the Chevy Small Block, Ford 5.0, Chrysler HEMI, and Toyota 2JZ are known for power, torque, and how quickly they can propel a hunk of steel down the drag strip or around the corners of a track. The Volkswagen air-cooled engine is remembered amongst people who have owned one as reliable, easy to maintain, and as numerous as grains of sand on the beach. VW made literally tens of millions of the engine, including over 21 million in just the Beetle (via Autoweek). 

It’s difficult to nail down specific aspects of the engine’s early history as sources tend to disagree on years. But the engine can be traced back to very early Volkswagen models designed with help from Ferdinand Porsche and built in the late-1930s to early 1940s in Nazi Germany. Official sources from Volkswagen are reluctant to acknowledge use of the engine or even the existence of the Beetle prior to the end of World War II.

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