Ann: FY17 Results Presentation, page-79

Personally I sold out of my holdings based on the large capital spend for moving into Mobile (Spectrum Licences & Network Building Costs, etc.).
I don't assume it will be the immediate payback most people think it will be. Well atleast I think the risk is there that it won't be.

I use TPG mobile at the moment in Sydney and while it has a good data balance, reception is very patchy destroying the experience.

I tend to think based on what other networks have spent & similar types of work, their network will be an unattractive second rate experience or they will have to spend a whole lot more capital in order to compete and then it will be a thing they are continually upgrading. Alternatively there will be significant roaming, killing margin.

I'm choosing to sit on the sidelines while waiting to see how the Mobile foray turns out. I'm sure they will eventually get it right, but from a risk/reward perspective I would prefer to jump in again once the Mobile Network roll-out is largely built out.