News: TPM TPG Telecom To Cease Rollout Of Mobile Network In Australia

Jan 29 (Reuters) - TPG Telecom Ltd (TPM) :

• DECIDED TO CEASE ROLLOUT OF ITS MOBILE NETWORK IN AUSTRALIA
• COMPANY HAS TO-DATE INCURRED NETWORK ROLLOUT CAPITAL EXPENDITURE OF ABOUT $100 MILLION
• BOARD NOT IN A POSITION AT THIS TIME TO ANNOUNCE ANY DECISION ON ITS FUTURE STRATEGY FOR TPG'S CURRENT SPECTRUM HOLDINGS
• ADDITIONAL CAPITAL EXPENDITURE OF APPROXIMATELY $30M IS ALREADY COMMITTED
• DOES NOT EXPECT ANY IMPACT FROM THIS DECISION ON ITS FY19 GUIDANCE
• AFTER GOVERNMENT'S ANNOUNCEMENT IN LATE AUGUST 2018 TO PROHIBIT USE OF HUAWEI EQUIPMENT IN 5G NETWORKS, UPGRADE PATH HAS NOW BEEN BLOCKED
• PRINCIPAL EQUIPMENT VENDOR SELECTED FOR USE IN NETWORK WAS HUAWEI
• DOES NOT ANTICIPATE HAVING TO WRITE-DOWN, AT THIS TIME, MOBILE NETWORK COSTS CAPITALISED TO-DATE

Source text (http//bit.ly/2DEEdsJ)

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