Latest TPG updates, page-166

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The government has appropriately introduced limits/caps of 60 MHz for metro areas and 80 MHz for regional areas in the upcoming auction of 3.6 GHz 5G spectrum.

With Optus and NBN excluded from most of the auctions, hopefully the level of intensity is not as high as would have been otherwise.

With 125 MHz up for grabs, Telstra will most likely get the maximum 60MHz and the remaining shared between Vodafone and TPG, maybe 35MHz and 30MHz.

Depending on the result, this auction might require TPG to raise capital again. Therefore, I will be preparing the funds to participate in any rights issue that may happen.