By - Bhawna Gupta
Highlights
- Shares of Telstra were trading at AU$3.84 apiece, up 1.19% on ASX today at 10.36 AM AEDT.
- This is in line with ASX 200 index, which was up 1.92% at 6,805.20 points.
- The company has changed its code to ‘TLSDA’ temporarily.
Shares of Telstra Corporation Limited (ASX:TLS) were trading at AU$3.84 apiece, up 1.19% on ASX today (24 October) at 10.36 AM AEDT. This is in line with ASX 200 index, which was trading 1.92% higher at 6,805.20 points. Sectorally, all 11 sectors were higher today at 10.37 AM AEDT and materials was the top-performing sector.
Telstra had been trading under the code ‘TLS’, but the company has temporarily changed its code to ‘TLSDA’. The company's name is also no longer Telstra Corporation Ltd; it is now showing Telstra Group Limited.
The company is going through a restructuring process under its T25 strategy. It shared its plans in August 2022 in its annual general meeting (AGM). This will give Telstra more time to concentrate on its customer and infrastructure operations, make the assets in these businesses more transparent, and give it more flexibility and options to realise value from its fixed infrastructure assets eventually.
On 30 September 2022, Telstra informed through an ASX filing that a preliminary statement of the ACCC's opinions regarding the authorisation Telstra and TPG Telecom (ASX:TPG) requesting for their proposed regional mobile network arrangements had been released.
The ACCC was requesting additional responses and was interested in hearing from stakeholders regarding their initial impressions.
In connection with three interconnected network agreements that were being considered at the same time, Telstra and TPG were requesting the ACCC for permission to carry out the presumed acquisition of some TPG spectrum.
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Data Source- Company announcement dated 30 September
In connection with a MultiOperator Core Network (MOCN) business arrangement, Telstra and TPG have agreed to three interconnected agreements: a MOCN service agreement, a spectrum authorisation agreement, and a mobile site transition agreement.
The agreement calls for TPG to give Telstra permission to use the spectrum that Telstra currently owns and Telstra to provide TPG with network services through active mobile network infrastructure sharing in specific regional and urban fringe areas, which covers about 17% of the Australian population.
TPG would offer retail and wholesale 4G and 5G services in the regional coverage zone using the MOCN services provided by Telstra.