"The sort of telecommunications infrastructure that TLS, Optus and TPG own/operate is commoditised and are highly scale-able for the on-boarding of additional customers (which result in limited pricing power)."
And one never quite knows what sort of left-of-centre technological change is going to occur that damages the value of all that wonderful, long-lived infrastructure.
TPM Price at posting:
$6.66 Sentiment: None Disclosure: Not Held
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