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TLS - Telstra News Story

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Sector
Telecoms
Size
Large Cap
Market Cap £23.28bn
Enterprise Value £33.30bn
Revenue £12.65bn
Position in Universe 16th / 1911

Australia's Telstra profit to halve after NBN rollout -chairman

Mon 15th October, 2018 11:56pm
Oct 16 (Reuters) - Telstra Corporation's  TLS.AX  profit is
expected to halve upon the National Broadband Network's (NBN)
scheduled rollout in 2021, Telstra's chairman said in an address
at its annual general meeting. 
    "Not a few percent, half," John Mullen, chairman of
Australia's biggest telecom operator, said, highlighting the
impact of the NBN's rollout on Telstra's earnings.
    The company earlier said the network would hit earnings by
about A$3 billion a year after its scheduled completion but had
not previously flagged an impact on profit.  

 (Reporting by Aditya Soni in Bengaluru
Editing by Leslie Adler)
 ((Aditya.Soni@thomsonreuters.com; +91 80 6749 1783; Reuters
Messaging: Aditya.Soni.thomsonreuters.com@reuters.net))
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