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Singapore Telecommunications Limited (Z77.SI)
- Reuters SG
CORRECTED-UPDATE 3-Australia blocks Telstra-TPG wireless internet deal, sparking legal fight
Australia's antitrust regulator blocked an asset transfer deal between Telstra and TPG, the country's No.1 and No.3 wireless internet firms, citing competition concerns, setting the scene for a legal battle over access to four million customers. In a deal announced in February, Telstra Group was to buy spectrum - airwaves which carry wireless internet - and transmission towers from TPG Telecom Ltd, while TPG would keep selling 4G and 5G coverage using what would become Telstra's infrastructure.
- Reuters SG
UPDATE 3-Australian telecom firms fined $22.1 mln for false internet speed claims
Three Australian telecom companies have been ordered by a court to pay a collective A$33.5 million ($22.08 million) in penalties for making misleading claims about speed of some NBN internet plans, the country's competition regulator said on Friday. The Australian Federal Court has ordered Telstra to pay A$15 million, a unit of TPG Telecom to cough up A$5 million, and imposed a fine of A$13.5 million on Optus, a unit of Singapore Telecommunications, the Australian Competition & Consumer Commission (ACCC) said.
- Reuters SG
UPDATE 2-SingTel flags macro-economic headwinds into 2023 despite upbeat H1 growth
Singapore Telecommunications (SingTel) on Thursday said the company may have to bare the brunt of further macro-economic challenges that are expected to persist into fiscal 2023 despite posting a 23% jump in its first-half net profit. SingTel, which is going through a strategic reset, said net profit for the half year ended Sept. 30 came in at S$1.17 billion, compared with S$954 million a year earlier. Optus, the Australian unit of SingTel, flagged a massive data breach where up to 10 million customers' data were compromised.
