The head of TPG has slammed the ACCC for its “1990s” approach to competition in the telecom sector.
Inaki Berroeta attacked the regulator during a speech at the CommsDay summit in Sydney this morning. The ACCC blocked the network sharing proposal between TPG and Telstra which would have allowed the former to expand its reach in regional Australia.
“We must recognise the value of calling out entrenched thinking and regulatory resistance to new models and ways of working,” the TPG CEO said.
“The status quo is not enough to meet the needs of Australia. The status quo enables so-called competition to be served, only while there is an established and unopposed market structure – with a major player who serves the high end, another to take the middle, and a smaller player who fights for what’s left over.”
He also accused the ACCC of serving to create a “regulated class system” blocking the deal.
“Competition doesn’t exist to dictate how the industry allocates capital or to pick winners and losers. At its core, competition exists to serve one simple, yet powerful purpose: to benefit customers.”
The ACCC commissioner Anna Brakey will also address the conference today.