Yahoo Finance Optus calls ACCC's decision to oppose proposed Telstra and TPG network sharing arrangement a 'win' for Australians
The ACCC said that the proposed arrangements will “likely lead to less competition and leave Australian mobile users worse off”.
Optus, a subsidiary of Singapore Telecommunications (Singtel), has lauded the decision of the Australian Competition and Consumer Commission’s (ACCC) to oppose the authorisation of the proposed Telstra and TPG network sharing arrangement.
The ACCC said that the proposed arrangements will “likely lead to less competition and leave Australian mobile users worse off”.
Optus CEO Kelly Bayer Rosmarin said that the decision “reinforces the importance of infrastructure-based competition and investment in our communications sector that will have lasting benefits for regional Australia”.
“All Australians benefit from competitive investment in telecommunications services, and for more than 30 years Optus has invested to provide Australians with choice,” Bayer Rosmarin adds. “By knocking back this deal, the ACCC has helped ensure that our regional communities will continue to benefit from competition in a sector that is fundamental to our digital economy and future prospects.”
She continues: “Optus reaffirms its commitment to providing Australia’s regional communities with a strong network and great service. This will be achieved through our ongoing investment program and focus on innovation for customers through our Living Network and other value adding products and services.”
Optus Vice President Regulatory and Public Affairs, Andrew Sheridan also celebrated the decision, saying that the proposed network sharing decision “would leave Australians worse off with less choice, higher prices, poorer services and less communications infrastructure”.
“From the outset we argued that this deal, which enabled TPG to quietly exit regional Australia, would entrench Telstra’s dominance, especially in the regions,” he writes. “The ACCC’s decision is a great outcome for regional Australians and upholds three decades of policy designed to promote competition in telecommunications.”
According to Optus, the telco has invested A$43.7 billion ($39.44 billion) in infrastructure and services since 1992. Venture Insights estimates that Optus’ investment of around A$1.2 billion average per annum in its mobile network contributes approximately A$18 billion to the national economy each year.
As at 9.51am, shares in Singtel are trading 1 cent higher or 0.39% up at $2.57.
See Also:
Click here to stay updated with the Latest Business & Investment News in Singapore
Singtel and SK Telecom sign MOU to jointly grow metaverse in APAC
Singtel's Thai associate progresses with acquisition of TTTBB and units in JASIF
Get in-depth insights from our expert contributors, and dive into financial and economic trends
