93YM Telstra 2.5% 23

TIDM93YM

RNS Number : 3795D

Telstra Corporation Ld

21 June 2023

 
 
   21 June 2023     Office of the Company Secretary 
 
                    Level 41 
   The Manager      242 Exhibition Street 
                    MELBOURNE VIC 3000 
   RNS              AUSTRALIA 
 
                    General Enquiries 613 8647 4838 
                    companysecretary@team.telstra.com 
 
                    Investor Relations 
                    Tel: 1800 880 679 
                    investor.relations@team.telstra.com 
 

ELECTRONIC LODGEMENT

Dear Sir or Madam

Telstra to consider competition tribunal's decision on landmark network sharing agreement

In accordance with the Listing Rules, I attach a market release by Telstra Group Limited which is also provided for the information of Telstra Corporation Limited noteholders.

Authorised for lodgement by the CEO.

Yours faithfully,

Sue Laver

Company Secretary

MARKET RELEASE

Telstra to consider competition tribunal's decision on landmark network sharing agreement

21 June 2023: Telstra today announced it would carefully consider the Australian Competition Tribunal's decision to not grant authorisation for their landmark Multi-Operator Core Network (MOCN) agreement with TPG.

Telstra CEO Vicki Brady said the outcome was disappointing, particularly given the overwhelming support the proposal had received from regional Australia.

"What we've tried to do is take an innovative approach to improve experiences for our customers and to answer calls from stakeholders, including governments, to provide better mobile connectivity, more coverage and more choice for our customers. The agreement with TPG would deliver these benefits almost immediately and for the long-term," Ms Brady said.

"As we consider this outcome, we are also calling for a rethink of policy on spectrum access in light of the ever-increasing demand for mobile data.

"Spectrum needs to be made available to those who can use it most effectively for the benefit of customers. All mobile network operators are facing the ongoing challenge of how to provide more capacity for customers to do all the innovative things they want using our mobile networks. From smart farming, mobile health care and remote education, through to the kids watching movies on family road trips.

"With mobile data demand currently growing at around 30 per cent per annum, there are essentially two ways to add capacity to meet this growing demand - get access to more spectrum or build more towers."

Ms Brady said investing in more towers to add capacity in regional Australia was not always commercially viable or an efficient use of capital or government funds, especially given there was a large amount of spectrum not being used and it wouldn't result in any material increase in coverage.

"As 5G drives increased data use and with 6G on the horizon, as a country we need to be smarter about how we use our spectrum assets and there is a role for government to look at how we do that more efficiently. At the moment we're limited in the amount of spectrum we can buy at auction and, as today's result shows, limited in the type of commercial arrangements we can put in place to improve services for our customers.

"While Telstra will continue to have Australia's largest and fastest mobile network, what today's decision means for the industry - at least for now - is less choice and valuable spectrum in regional Australia going unused.

"We'll continue to advocate for getting the best possible outcomes for regional Australia and continue to look for commercially negotiated sharing arrangements to deliver better experiences for customers," said Ms Brady.

Telstra and TPG will review Australian Competition Tribunal's decision in full before deciding on further action.

Telstra media contact:

Name: Steve Carey, General Manager Media

   Mobile:   +61 413 988 640 

Email: media@team.telstra.com

Media reference number: 025-2023

Telstra investor contact:

Name: Nathan Burley, Investor Relations

Mobile: +61 457 529 334

Email: investor.relations@team.telstra.com

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June 21, 2023 02:00 ET (06:00 GMT)

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