TPG Telecom Agrees A$1.17 Billion Regional Network Sharing With Optus
By Stuart Condie
SYDNEY--TPG Telecom will pay Optus about 1.17 billion Australian dollars (US$653.2 million) to use its rival's mobile infrastructure in regional Australia, turning to the Singapore Telecommunications-owned company after regulators blocked an earlier plan to share with Telstra.
TPG on Monday said that it would pay service fees of about A$1.59 billion to access Optus sites over the agreement's 11-year term, recouping about A$420 million in mobile spectrum receipts. The net outlay is about a third of the cost of building and maintaining its own regional network, TPG said.
TPG expects the arrangement to come into force in early 2025, subject to regulatory approval.
Australian competition regulators previously blocked TPG's plan to share regional mobile assets with Telstra, the country's largest communications provider. The country's consumer watchdog said that proposal would have probably lessened competition and lowered service standards.
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
April 28, 2024 19:28 ET (23:28 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
How Anti-Obesity Drugs Are Innovating the Healthcare Market
-
What’s Happening In the Markets This Week
-
Why Immigration Has Boosted Job Gains and the Economy
-
What to Invest in During High Inflation
-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
After Earnings, Is Lyft Stock a Buy, a Sell, or Fairly Valued?
-
8 Stock Picks in the Apparel Industry
-
Baidu Earnings: Advertising Weakness Offset by Continued Growth In Cloud Business
-
Going Into Earnings, Is Target Stock a Buy, a Sell, or Fairly Valued?
-
Walmart Earnings: Low Prices and Strong Digital Presence Drive Market Share Gains
-
After Earnings and a Big Selloff, Is Shopify Stock a Buy, a Sell, or Fairly Valued?
-
Cisco Earnings: Positive Guidance and Splunk Inclusion Align With Our Long-Term Thesis
-
3 Warren Buffett Stocks to Buy After Berkshire Hathaway’s Just-Released 13F Filing