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TPG to buy iiNet for AUD 1.4 billion
2015-03-13 08:36:00| Telecompaper Headlines
(Telecompaper) Australian carrier TPG Telecom has agreed to buy rival iiNet for AUD 1.4 billion. The offer price of AUD 8.60 per share, plus the AUD 0.105 dividend owed iiNet shareholders, is a 33 percent premium on iiNet's last trading price before the announcement. TPG said the two operators had complementary businesses in terms of geographic presence, market segments and corporate customer base. Together they will serve over 1.7 million broadband customers in Australia. TPG will finance the deal with external debt and see its net debt rise to 3.1 times EBITDA after the takeover. The acquisition remains subject to approval by iiNet shareholders, expected in June, and the takeover is expected to close in July.
Telstra net profit jumps 21.7% to AUD 2.1 bln in H1
2015-02-12 12:31:00| Telecompaper Headlines
(Telecompaper) Revenue from Australian operator Telstra's mobile business grew by 9.6 percent to AUD 5.3 billion for the six months ended 31 December 2014. Fixed data revenue increased by 7.8 percent, while fixed voice revenue fell 6.9 percent. Overall, revenue from Telstra's fixed business declined 1.7 percent, to AUD 3.5 billion in the 6-month period. Revenue from Telstra's Network Applications and Services (NAS) product line rose 18.1 percent to AUD 1 billion. International NAS revenues increased by 28.1 percent to AUD 41 million.
TPG to buy AAPT for AUD 450 mln
2013-12-09 00:51:00| Telecompaper Headlines
(Telecompaper) Australian communications provider TPG Telecom will buy AAPT from Telecom New Zealand for AUD 450 million on a debt-free and cash-free basis. TPG will fund the acquisition by increasing and extending its existing debt facility. AAPT offers voice, internet, data, and cloud services to business and wholesale customers via its national network. TPG said that the acquisition will add 11,000km of fibre across six states and territories, fibre access to 1,500 premises, 15 data centres across all major capital cities, and widespread mid-band Ethernet capability to the company. Telecom New Zealand said that the sale of AAPT is consistent with its aim to focus principally on the New Zealand operations. The company anticipates in the first instance sale proceeds will be used to repay debt. The transaction, which is expected to complete on 28 February 2014, follows the sale of AAPT's consumer division in September 2010.
iiNet buys Adam Internet for AUD 60 mln
2013-08-05 02:11:00| Telecompaper Headlines
(Telecompaper) Australian ISP iiNet will acquire South Australian ISP Adam Internet for AUD 60 million. Rival Telstra earlier tried to acquire Adam Internet but the company could not satisfy the requirements of the Australian Competition and Consumer Commission (ACCC) before the deal expired at end-June this year. Adam Internet has around 70,000 broadband subscribers and revenues in FY 2014 are expected at AUD 55.0 million and EBITDA at AUD 11.5 million. The completion of the acquisition is expected by 31 August as the ACCC has already cleared the transaction.
Telstra grows H1 profit 8.8% to AUD 1.6 bln
2013-02-07 02:10:00| Telecompaper Headlines
(Telecompaper) Telstra saw its net profit for the first half ended 31 December 2012 rise 8.8 percent to AUD 1.6 billion from AUD 1.5 billion a year earlier. Total revenues grew 1.7 percent to AUD 12.7 billion from AUD 12.5 billion a year earlier, as mobile, NAS, and international revenue growth offset declines in fixed, media, and data and IP revenues. EBITDA went up 5 percent to AUD 5 billion, which included the AUD 130 million impairment for TelstraClear which was related to the loss on foreign exchange over the period the company held the asset. Free cashflow totalled AUD 2.16 billion, up 20.1 percent. Telstra ended the period with 6.7 million retail fixed-line customers, down by 178,000, and the number of retail broadband customers grew by 85,000 to 2.7 million. The mobile base went up by 607,000 new customers in the period to 14.4 million. Capex in the six month period was up 10.2 percent to AUD 1.89 billion. Telstra also announced a AUD 0.14 fully franked interim dividend. The company confirms fiscal 2013 guidance of low single digit total income and EBITDA growth, with free cashflow of between AUD 4.75 billion and AUD 5.25 billion. Telstra expects capital expenditure to be around 15 percent of sales.
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