[mcbridematt]

I can't see this being true for IoT/M2M either, sorry. There are a couple of small MVNOs on Vodafone but nothing that would bridge the gap between them and the other players.

_Maybe_ they have a good share of multinational contracts from their parent company, that is the only area I can see this statement being true.

Vodafone are doing some work with NB-IoT but the general market for this are metro utility companies - the coverage doesn't exist out of these areas to be taken seriously for a nationwide fleet.

I would put good money on the number of payment card terminals and power meters alone on Telstra being bigger than Vodafone AU's entire M2M business.