Australia's largest telecommunication company Telstra (TLS:ASX) announced today that it would split into three parts. The company will be splitting into three parts, mobile tower assets, radio network and spectrum assets. The splitting will be completed by December 2021. The company has been constantly working on restructuring. Telstra is expecting that it's 5G network will reach more than 50% of the Australian Population by end of December 2020 and 75% by end of FY21. Launched fixed wireless for select customers.
Productivity program had delivered $1.8 billion of savings between FY16 and FY20 - on track to $2.5 billion by FY22.
5G rollout well progressed
Clear roadmap to underpin 5G leadership and monetization.
Develop partnerships to accelerate delivery of 5G.
Already monetizing 5G
Well placed to capitalize on further 5G monetization opportunities.
The company is expecting a substantial growth in 5G customers during Q4 2020.
Goldman Sachs has updated Telstra's target price to $3.60 today. Telstra's share price went up $3.185 after the announcement.
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