Market Intelligence

Australia's TPG expects H1 writedown after dumping Huawei-supplied mobile network


Feb 26 () - Australia'sTPG Telecom Ltd on Tuesday said it expects a capital expenditure write-down after abandoning the building of a mobile network last month due to an Australian ban on the use of equipment from Huawei Technologies Co Ltd.

TPG, which is awaiting regulatory approval for its merger with the Australian arm of Britain'sVodafone Group PLC, said it expects a write-down of A$76 million ($54.48 million) in its mobile network capital expenditure.

($1 = 1.3951 Australian dollars)

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