Australian Telcos Face Disappointment From Regulatory Changes -- Market Talk

Dow Jones

Dec 17, 2025

0104 GMT - Australian telcos are likely to be disappointed by regulatory changes that had initially implied bigger cost savings, Jefferies analysts say. A revised proposal by the Australian Communications and Media Authority has increased the expected cost of renewing expiring spectrum licenses by about A$1.7 billion, reducing potential cost savings for Telstra, TPG and Optus. Jefferies now estimates savings of A$450 million for Telstra and A$200 million for TPG, versus its previously expected A$1.0 billion-A$1.6 billion and about A$400 million, respectively. Jefferies still prefers TLS to TPG as it has a strong balance sheet and can maintain capital management flexibility despite the lower potential cost savings from spectrum renewals. "By contrast, TPG is generating just enough cash earnings to sustain the current distribution per share of A$0.18, leaving no buffer for further capital management." (fabiana.negrinochoa@wsj.com)

(END) Dow Jones Newswires

December 16, 2025 20:04 ET (01:04 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

At the request of the copyright holder, you need to log in to view this content

LOGIN / SIGN UP

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

1
2
3
4
5
6
7
8
9
10

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2592951327"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2592951327\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2592951327?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-12-17 09:04","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2592951327","market":"sg","top_or_hot":-1,"title":"Australian Telcos Face Disappointment From Regulatory Changes -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0104 GMT - Australian telcos are likely to be disappointed by regulatory changes that had initially implied bigger cost savings, Jefferies analysts say. A revised proposal by the Australian Communications and Media Authority has increased the expected cost of renewing expiring spectrum licenses by about A$1.7 billion, reducing potential cost savings for Telstra, TPG and Optus. Jefferies now estimates savings of A$450 million for Telstra and A$200 million for TPG, versus its previously expected A$1.0 billion-A$1.6 billion and about A$400 million, respectively. Jefferies still prefers TLS to TPG as it has a strong balance sheet and can maintain capital management flexibility despite the lower potential cost savings from spectrum renewals. \"By contrast, TPG is generating just enough cash earnings to sustain the current distribution per share of A$0.18, leaving no buffer for further capital management.\" (fabiana.negrinochoa@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 16, 2025 20:04 ET (01:04 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Australian Telcos Face Disappointment From Regulatory Changes -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAustralian Telcos Face Disappointment From Regulatory Changes -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-12-17 09:04</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0104 GMT - Australian telcos are likely to be disappointed by regulatory changes that had initially implied bigger cost savings, Jefferies analysts say. A revised proposal by the Australian Communications and Media Authority has increased the expected cost of renewing expiring spectrum licenses by about A$1.7 billion, reducing potential cost savings for Telstra, TPG and Optus. Jefferies now estimates savings of A$450 million for Telstra and A$200 million for TPG, versus its previously expected A$1.0 billion-A$1.6 billion and about A$400 million, respectively. Jefferies still prefers TLS to TPG as it has a strong balance sheet and can maintain capital management flexibility despite the lower potential cost savings from spectrum renewals. \"By contrast, TPG is generating just enough cash earnings to sustain the current distribution per share of A$0.18, leaving no buffer for further capital management.\" (fabiana.negrinochoa@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 16, 2025 20:04 ET (01:04 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7042","symbol_name":"综合电信业务","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2592951327","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2592951327","pubTimestamp":1765933440,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Copyright (c) 2025 Dow Jones & Company, Inc.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7042":"综合电信业务","TLS.AU":"TELSTRA GROUP LTD","TPG.AU":"TPG TELECOM LTD","BK7511":"ESG概念"},"translate_title":"澳大利亚电信公司对监管变化感到失望——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TPG.AU":0.9,"TLS.AU":0.9},"content_text":"0104 GMT - Australian telcos are likely to be disappointed by regulatory changes that had initially implied bigger cost savings, Jefferies analysts say. A revised proposal by the Australian Communications and Media Authority has increased the expected cost of renewing expiring spectrum licenses by about A$1.7 billion, reducing potential cost savings for Telstra, TPG and Optus. Jefferies now estimates savings of A$450 million for Telstra and A$200 million for TPG, versus its previously expected A$1.0 billion-A$1.6 billion and about A$400 million, respectively. Jefferies still prefers TLS to TPG as it has a strong balance sheet and can maintain capital management flexibility despite the lower potential cost savings from spectrum renewals. \"By contrast, TPG is generating just enough cash earnings to sustain the current distribution per share of A$0.18, leaving no buffer for further capital management.\" (fabiana.negrinochoa@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 16, 2025 20:04 ET (01:04 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}