Lets say this is how you read the file with the version, im assuming its only one line long and there is only version info there:
Dim reader As New IO.StreamReader("path to the version file")
dim currentversion as string = reader.ReadLine()
If currentversion = Application.ProductVersion Then
'current version on the client is the same as the newest one
Else
'version is not the same, needs update
End If
And also this is assuming that you write the file file the client downloaded using Application.ProductVersion so they have the same format.