"Australian consumers have lost a once-in-a-generation opportunity for stronger competition and cheaper mobile telecommunications services with this merger now allowed to proceed":ACCC chief Rod Sims.Credit:Eamon Gallagher
Mr Sims said it was too soon to say if the ACCC would appeal the ruling. Justice Middleton will release his full set of reasons in about two weeks.
Other industry players are worried about the lack of competition in the sector,with David Tudehope,the chief of Macquarie Telecom slamming the court's ruling.
"This decision will only worsen the lack of competition,which has meant our industry continues to under serve and overcharge customers."
"Now that the decision has been made to allow the merger to go ahead,the government and ACCC will need to reconsider how to improve retail and wholesale competition in mobiles."
Justice Middleton said on Thursday the combined Vodafone and TPG would be better able to compete with Telstra and Optus.
"It is not for the ACCC or this court to engineer a competitive outcome."
Justice Middleton said more players in a market did not equate to players who could compete equally.
Justice Middleton also had praise for TPG's reclusive billionaire founder,saying while he found Mr Teoh had not used extensive paperwork to make large business decisions his approach to business was sound.
"Mr Teoh had a more informal and fluid approach ... he may do whatever it takes to progress his business,but he is obviously not foolhardy."
Mr Teoh welcomed the judgment,saying the parties would work to finalise the merger as soon as possible.
Vodafone Hutchison Australia chief executive Inaki Berroeta said it was a great outcome for the Australian economy as it would allow for greater investment in next generation networks including 5G.
"We have ambitious 5G rollout plans and the more quickly the merger can proceed,the faster we can deliver better competitive outcomes for Australian consumers and businesses."