NBN on the Fixed Side, Now TPG on the Mobile Side; Cutting Telstra FVE to AUD 4.80
We cut narrow-moat Telstra's fair value estimate by 20% to AUD 4.80, reflecting the multipronged impact of TPG Telecom's decision to launch a fourth mobile network in Australia. It is a decision that has caught us completely by surprise, not only because of the eye-popping AUD 1.26 billion paid for the spectrum, but also by TPG's willingness to become the fourth player in a mature market while doing exactly the same in Singapore. The new force in the domestic mobile space could not have come at ...Telstra is engaged in providing telecommunications and information services for domestic and international customers. Co.'s operating segments are Telstra Retail, Global Enterprise and Services, Telstra Operations, and Telstra Wholesale. As of June 30 2016, Co. provided retail fixed data services to 3.4 million customers, retail fixed voice services to 5.7 million and domestic retail mobile services to 17.2 million customers.
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