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TLS - Telstra News Story

NZD3.72 0.0  0.0%

Last Trade - 14/05/21

Sector
Telecoms
Size
Large Cap
Market Cap £22.56bn
Enterprise Value £32.38bn
Revenue £12.39bn
Position in Universe 16th / 1913

BUZZ-Australia's Telstra sheds some gains on plans to split

Thu 12th November, 2020 5:17am
(Updates)
    ** Shares of Australia's biggest telecom firm  TLS.AX  sheds
some gains on plans to split into 3 units and sell mobile towers
    ** TLS closed 3% higher at A$3.08, after having climbed 6.7%
on the news, its biggest rise since March  urn:newsml:reuters.com:*:nL4N2HX4Q0
    ** The 3 new units will be infrastructure assets, mobile
tower assets, and radio access network and spectrum assets;
break-up expected by Dec. 2021
    ** The COVID-19 pandemic has seen TLS suspend cost-cutting
plans, hand out free data, and halt the charging of overdue fees
to customers
    ** Jefferies says separating towers from fixed assets "is a
good move"
    ** Goldman Sachs values towers at A$4.5 bln ($3.27 bln)
    ** However, Jefferies notes the carve-out will be complex
given its size
    ** Stock hits its highest since Aug. 13; set for sixth
straight session of gains
    ** Stock among biggest percentage gainers on the benchmark
ASX 200 index  .AXJO 
    ** Stock down 14% this year, as of last close,
underperforming the ASX 200 

    ($1 = 1.3753 Australian dollars)

 (Reporting by Rashmi Ashok and Ananya Pande in Bengaluru)
 ((Rashmi.Ashok@thomsonreuters.com; +918061822604;))
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