$2 billion of the total impairment provision originates from its Australian unit Optus’ goodwill.
– Singtel on April 29 forecast non-cash impairment provisions of $3.1 billion for the second half of financial year 2024 which would lead to the telecom giant reporting a net loss for the period.
After conducting a strategic review of its enterprise business, Optus found that it was reporting steep declines in fixed carriage revenue, in line with an overall market decline in Australia, the Singtel filing stated. TPG will now be covering a total 2,444 mobile network sites in regional Australia, up from 755 previously, and will gain access to Optus’ regional 5G network as it is rolled out.
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