This report lists the over 100 M&A’s that have taken place since the mid-1990s in a market environment that is dominated by Telstra. Since the mid-1990s, Australia’s telecoms industry has been characterised by dozens of take overs, buy-outs, mergers and alliances that have seen the disappearance of many of the smaller players. More top-level consolidation will be required. The following overview of current developments provides a picture of this volatile market. The Vodafone resellers feature prominently in the early years. They allowed a limited number of service providers to a maximum of 16. In a market that was eager to grow through acquisitions, this made these companies hot properties in the mid-1990s. Consolidation will remain an important feature of the industry throughout this decade.