TLS telstra group limited

(Adds details on fine, false claims and background) Nov 11...

  1. 193,698 Posts.
    lightbulb Created with Sketch. 2825

    (Adds details on fine, false claims and background)

    Nov 11 (Reuters) - Three Australian telecom firms have been ordered by a court to pay a collective A$33.5 million ($22.08 million) in penalties for making misleading claims about speeds of some NBN internet plans, the country's competition regulator said on Friday.

    The Australian Federal Court has ordered Telstra (TLS) to pay A$15 million, a unit of TPG Telecom (TPG) to cough up A$5 million, and imposed a fine of A$13.5 million on Optus, a unit of Singapore Telecommunications STEL.SI , the Australian Competition & Consumer Commission (ACCC) said.

    All three telcos have admitted in court of making false or misleading statements, the regulator said, claiming nearly 120,000 customers were affected.

    According to the ACCC, the false or misleading statements were made for at least 12 months in 2019 and possibly extended until 2020, related to their 50 Megabits per second (Mbps) or 100Mbps fibre to the node plans.

    NBN, or National Broadband Network, is a government-run broadband network.

    Telstra, TPG, and Optus did not immediately respond to Reuters requests to comment.

    ($1 = 1.5175 Australian dollars)

 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)
Last
$4.88
Change
-0.010(0.20%)
Mkt cap ! $55.72B
Open High Low Value Volume
$4.89 $4.91 $4.86 $99.85M 20.45M

Buyers (Bids)

No. Vol. Price($)
6 76343 $4.87
 

Sellers (Offers)

Price($) Vol. No.
$4.88 21900 2
View Market Depth
Last trade - 16.10pm 17/06/2025 (20 minute delay) ?
TLS (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.