Market Intelligence

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

Reuters

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)


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More