Why Telstra (ASX: TLS) stock is drawing attention on Wednesday

Image Source: Getty Images

NS Telstra Corporation Ltd (ASX: TLS) Stock prices will be the focus of attention on Wednesday.

This follows the release of Presentation By the giant of the telephone company this morning.

Why is Telstra’s stock price so popular?

Investors may want to look at Telstra’s stock price today after announcing a mobile spectrum-related announcement.

According to the release, Telstra has invested $ 616 million to secure 2x10MHz at the Australian Communications and Media Authority’s 850 / 900MHz band auction.

This represents the maximum amount of low-bandwidth spectrum that Telstra is allowed to bid on under the competition limits set by the government.

The Telstra giant believes this is a victory for Telstra’s customers, especially the rural and local people, businesses and communities of Australia.

Vicki Brady, Telstra’s Chief Financial Officer, Strategy and Finance Group Executive, explains: This is more than any other carrier, which is important given our larger customer base and helps us continue to provide the best mobile coverage and services. “

“Mobile and wireless broadband are key factors in the success of the digital economy, and this low-bandwidth spectrum helps support Australia’s digital economy ambitions, which are essential to the US pandemic recovery. Essential for transmitting mobile data, especially 5G, over the vast distances required in regions and remote areas, it can also provide better coverage indoors and other hard-to-reach locations in metro locations. ” She added.

Expanded 5G coverage

Today, Telstra’s 5G network has expanded to more than 4,000 sites nationwide, reaching 75% of the population. This new spectrum will help meet T25’s commitment to provide 5G coverage to 95% of the population by 2025.

It also extends the lead over its rivals in unimaginable amounts.

Brady explains: “In the seven years to 2010, we will invest $ 11 billion in mobile networks nationwide, of which $ 4 billion will be invested in regional mobile networks. Therefore, our mobile network is one of the other telephone companies. It covers more than one million square kilometers, which is the combined size of New South Wales and Victoria. “

But that’s not all. Telstra advised to continue investing to maintain key mobile coverage and help local and remote communities fully participate in the digital economy.

Payment of the 20-year license is not scheduled until just before it begins in mid-2024.

Why Telstra (ASX: TLS) stock is drawing attention on Wednesday

Source link Why Telstra (ASX: TLS) stock is drawing attention on Wednesday

Related Articles

Back to top button