Telstra and TPG Telecom to form a $1.44bn joint venture.

Telstra, an Australian telecommunications company, and TPG Telecom, a telecommunication company, agreed to form a $1.44bn joint venture providing multi-operator core network. It represents a material uplift in the capability of our network and will provide significant value for TPG Telecom shareholders over the medium and long term. We will be open for business in regional and rural Australia like never before, offering a 4G network that provides 98.8% population coverage and rapidly growing 5G coverage across the nation. The agreement demonstrates best-practice asset utilisation and a commitment to rationalising our operations to deliver a better customer experience, while increasing capital efficiency," Iñaki Berroeta, TPG Telecom CEO.