News: TPG UPDATE 1-Singtel-owned Optus and TPG Telecom agree to network sharing

(Updates with details on agreement throughout)

April 29 (Reuters) - Singapore Telecommunications' STEL.SI Australian unit Optus and Australia's No. 1 telecom firm TPG Telecom (TPG) have agreed to boost their mobile networks and improve their coverage, the companies said on Monday.

As a part of the regional Multi-Operator Core Network agreement, TPG will increase its mobile network in regional Australia to 2,444 network sites, with Optus providing TPG Telecom access to its regional radio access network and sharing spectrum in regional Australia.

"The agreement will reduce combined 5G network rollout costs in regional Australia, which will enable the rollout of 5G infrastructure to be completed two years earlier than previously planned," said Optus interim CEO Michael Venter.

The agreement is expected to be operational by early 2025 and has an initial term of 11 years with an option for TPG to extend it for five more years.