Australia: TPG profits go down after abandoning network rollout
Australian MNO TPG has revealed that its net profit for the 2019 financial year has dropped by 56% to last year, from AU$397.5mn to AU$175mn, due the telco’s abandonment of its mobile network rollout.
Earlier this year, the company halted its own mobile network rollout following Australian government’s ban on using Huawei equipment for 5G. “It is extremely disappointing that the clear strategy the company had to become a mobile network operator at the forefront of 5G has been undone by factors outside of TPG’s control” TPG chief David Teoh said in January.
