Forming a new business Mobile phone operators Vodafone and Hutchison Telecommunications, which is behind the 3 brand have agreed to merge their businesses.

Each company will own half of a joint venture, VHA. VHA will market its products and services under the existing Vodafone brand, and retain the exclusive rights to the 3 brand. VHA will be headed by current Hutchison Australia chief executive officer Nigel Dews, with Vodafone CEO Nick Read as chairman.

It is all not a done deal as both outfits have to have their shareholders vote on it. However most analysts think that it will boost the value of both company's in Australia.