Australia’s largest telco rallied a healthy +3.1% yesterday as the defensive theme took hold although the stock remains unchanged over the last 6-months and 3-years! The news that sent TLS and TPG Telecom (TPG) higher was a proposed deal between the two companies to share mobile infrastructure networks, seems logical and smart business with the deal expected to add $1.6-1.8bn to TLS’s revenue over the next decade, although competitor Optus not surprisingly aren’t happy – let’s hope the ACCC don’t block this deal for the sake of our positions in both telcos.
MM is long and bullish TLS as an income play
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