News: TPM TPG Telecom Updates On Accounting Implications Of Ceasing Australian Mobile Network

Feb 26 (Reuters) - TPG Telecom Ltd (TPM) :

• UPDATES ON ACCOUNTING IMPLICATIONS OF CEASING AUSTRALIAN MOBILE NETWORK
• PURSUANT TO AN IMPAIRMENT REVIEW UNDERTAKEN FOR ITS 1H19 ACCOUNTS, GROUP WILL REDUCE VALUE OF ITS SPECTRUM LICENCES BY ABOUT $92MLN
• GROUP'S BAU EBITDA GUIDANCE FOR FY19 IS UNAFFECTED
• FROM IMPAIRMENT REVIEW OF MOBILE NETWORK ASSETS UNDERTAKEN FOR H1, CO SEES WRITE-DOWN OF MOBILE NETWORK CPAEX INCURRED TO-DATE OF $76MLN
• GIVEN CESSATION OF MOBILE NETWORK CONSTRUCTION, INTEREST CAPITALISED UP UNTIL DATE OF DECISION OF ABOUT $60M WILL BE WRITTEN-OFF IN 1H19