Maybe, that makes some sense but I still think the synergy comes from the retail side of things.
I take Bugs point as well but there's a bit of difference between BHP diversifying into a new commodity (oil) and Telstra becoming a producer UNLESS it's simply as a result of building some in house renewable capacity (i.e. solar) and selling some surplus back to the grid as some manufacturers are doing.
As for Telstra getting into Nuclear and Helecoal? Pure fantasy.
Where to now for long term investors of Telstra, page-1001
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