Not sure this adds value to the country but clearly the market is concerned re competition
Telstra shares dive after TPG wins bid to build its own $1.9 billion network
https://edge.alluremedia.com.au/uploads/*/2017/04/Screen-Shot-2017-04-12-at-11.27.23-am.jpg
Shares in Telstra dropped hard after competitor TPG Telecom announced plans to build its own mobile phone network.
A short time ago, Telstra was trading at $4.26, down 6.4%.
Billionaire David Teoh’s TPG Telecom today announced it is creating its own mobile phone network after winning a bid for spectrum in the 700MHz band at an auction by the Australian Communications and Media Authority.
The plan will cost about $1.9 billion, made up of $600 million for the network rollout capital over three years and $1.26 billion for the 700 MHz spectrum.
The Australian Communications and Media Authority says TPG paid $1.26 billion and Vodafone Hutchison $285.9 million for 700 MHz spectrum.
image: https://edge.alluremedia.com.au/uploads/*/2017/04/telstra-share-price-apr-12-2017.jpg
https://edge.alluremedia.com.au/uploads/*/2017/04/telstra-share-price-apr-12-2017.jpg
Read more at https://www.*.com.au/telstra-shares...own-mobile-network-2017-4#T2JprbGSPs3d36L6.99
You would think they are a good buy at 4.26 but lets see.
TPG competition to Telstra
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Last
$3.50 |
Change
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Mkt cap ! $40.44B | |||
| Open | High | Low | Value | Volume |
| $3.53 | $3.54 | $3.50 | $40.30M | 11.47M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 127 | 803512 | $3.50 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.51 | 142608 | 2 |
View Market Depth
| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Last
$3.51 |
Change
-0.030 ( 0.82 %) |
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| Open | High | Low | Volume | ||
| $3.53 | $3.54 | $3.51 | 4335586 | ||
| Last updated 15.59pm 14/06/2024 ? | |||||
| TLS (ASX) Chart |