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early birds
post Posted: Jun 23 2021, 08:58 AM
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Vocus Group’s life on the ASX only has a few days to go after shareholders approved the $3.5 billion buyout of the Dodo and iPrimus owner by Macquarie and Aware Super.

Vocus investors today overwhelmingly backed the takeover with 99.84% of votes cast in favour of the scheme merger.

The scheme goes to the NSW Supreme Court on Thursday for final approval.

Vocus shareholders will receive $5.50 cash for each share held on the applicable record date, which is expected to be July 2 at 7pm AEST.

Working through a jointly-owned company called Voyager, Macquarie and Aware Super made their approach for Vocus back in March, locking in a $5.50-per-share offer.

“Over the past three years, Vocus has executed an ambitious turnaround strategy that radically simplified our business, our networks, and our technology platforms to reduce costs, expand our reach, and provide better services for our customers,” Vocus chairman Bob Mansfield said in a statement to the ASX.

“Today’s vote is a vindication of that strategy, and recognises the contribution of every Vocus employee towards the successful execution of the company’s turnaround.

“This outcome is in the best interests of all shareholders and ideally positions Vocus as it embarks in a new stage of investment”.

You can bet that both buyers will be telling us that Vocus is a great buy when they try to refloat it in a couple of years’ time.


expecting more of money flow into TLS eg....... after people sell all their VOC. basic logical right?? tongue.gif

post Posted: May 20 2021, 03:01 PM
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You can dump a share because your dealings with the company are so bad you wonder why they are still are in existence. And this is how I came to sell my Telstra shares an hour before I wrote this.

We have persevered with Telstra for many years despite the difficulty of communicating with them. Earlier this year, when the NBN became available in our area, Telstra rang us continually to convince us to remain with them by switching our Telstra cable internet service to Telstra NBN. We declined and moved the home service to Aussie Broadband.

The Telstra service was discontinued and the associated landline number ported over to a new provider. The problem was that Telstra kept sending us bills telling us that the direct debit to our account would continue.

I rang Telstra where a recorded message told me to use the MyTelstra app on my phone. That was a disaster. Naturally they start the conversation by asking for my full name, date of birth and account number which I duly provided. The next message advised me I was on a contract and there were termination fees. When I asked for a copy of said contract and what the termination fees were for, there was no reply.

What followed was a nightmare. Every time I re-joined the message conversation the cycle re-started with the usual request for name, date of birth etc. and what was I calling about. After having provided the details more than six times, I finally gave up and made my first ever complaint to the Telecommunications Industry Ombudsman. It took three minutes online.

In less than 24 hours after I lodged the official complaint, Telstra had emailed me an apology and promised to refund all the disputed charges. I then tweeted what had happened and within five minutes, Telstra tweeted another apology.

The lesson is obvious – don’t spend weeks fighting with your telecommunications provider. Use Twitter or go straight to the ombudsman. Through either action you’ll get your fast results.
from Noel Whittiker

"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
early birds
post Posted: Apr 23 2021, 09:55 AM
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Spectrum refers to the radio waves that wireless signals travel over. It allows mobile calls and internet usage, and the more slots one player holds, the more data it can send through the waves.

As the 26Ghz spectrum is high-energy, they cannot travel over long distances, so they are ideal for high-density areas like cities rather than regional centres.

TLSTelstra Corporation


1 year
1 day
Apr 20
Oct 20
Apr 21
Updated: Apr 23, 2021 – 9.51am. Data is 20 mins delayed.
View TLS related articles
Telstra chief executive Andy Penn said the investment would help broaden the company’s 5G capabilities.

“We’re delighted with the outcome of the auction and while the licenses won’t come into effect until around the middle of the year, the ACMA is making available early access licensing which will allow us to use the spectrum even soon,” he said.

5G.... seems TLS will play a leading roll. tongue.gif

post Posted: Apr 20 2021, 04:10 PM
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Analysts are suggesting there are many assets within Telstra that are not being adequately valued. Separating them will recognise the value of infrastructure style assets that can generate stable, recurring revenues, resulting in a far higher valuation than the present share price.
The towers business carries a modest asset value of just $300 million on the Telstra balance sheet after heavy depreciation. Once towers are in place and connected to the fibre backhaul, they are expensive to replicate and therefore extremely valuable.

Experience overseas shows that Telstra is following a well-trodden path as it seeks to increase shareholder value. An analyst says that mobile tower companies can trade at EBITDA multiples (earnings before interest, tax, depreciation and amortisation) ranging between 21-27 times earnings. By comparison, Telstra trades on an EBITDA multiple of around eight times.

The belief is through a partial or full selldown of these assets Telstra can realise this valuation arbitrage and increase shareholder returns.

Support for this view comes by referencing American Tower, which is listed in the US. The largest tower business in the world, it bought AT&T's long-distance phone lines years ago and used them to host mobile infrastructure.

American Tower is today valued at more than $US100 billion ($130 billion). It trades at over 20 times EBITDA, while AT&T trades at just seven times.

Also, Vodafone spun off its mobile tower assets in March this year on an EBITDA multiple of around 20 times.

There are few downsides for the proposed restructure other than Telstra risking its network advantage if the mobile towers separation is not properly structured.

American Tower's success has been in hosting multiple networks from a single piece of infrastructure. It has been able to scale nicely. For Telstra's tower businesses to do the same, Telstra would have to allow other networks access to those sites. There is a clear trade-off here. To maximise the value of its infrastructure, Telstra needs to allow other networks access to it. If it does that, it risks its network superiority.

The Australian Competition and Consumer Commission (ACCC) is another risk to this restructure. A split of the towers and infrastructure assets potentially opens the door to other networks also utilising those assets which could even the playing field.

"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

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early birds
post Posted: Mar 26 2021, 09:23 AM
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wekness for TPG
seems people dump TPG and switch to TLS this morning. 3.43 as i'm typing.
not far from my target 3.50ish. tongue.gif
the dog has it's day !!! lmaosmiley.gif

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early birds
post Posted: Mar 23 2021, 09:02 AM
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The end of Telstra as we know it and the start of four linked companies with investors tossing up which one of the new children will be first to be set free.

Telstra confirmed yesterday the shape of the previously announced plan that would see it splitting itself into its component parts.

Telstra will establish a new holding company and separate its international division into a new subsidiary as it moves ahead with what will be its biggest restructure since privatisation. The domestic business will then be split into three parts.

Telstra shareholders will have their holdings transferred to the new entity under a scheme of arrangement that will be voted on at the company’s AGM in October.

There will be no changes to their ownership levels as part of the revamp which the company end up in four divisions – InfraCo Fixed (the existing Telstra Corp), InfraTowers, ServeCo and Telstra International.

The split plans were first announced last November and were described then as a way to increase value for shareholders and to provide the telco with options for structuring its future direction and strategy.

Chairman John Mullen said the restructure was a step towards realising the value of the telco’s infrastructure.

“It also reflects the new post-COVID world we are living in and the fact that our assets are a critical part of the infrastructure that is enabling the nation’s rapidly growing digital economy,” Mr Mullen said in Monday’s statement.

Splitting InfraCo into two distinct businesses is expected to offer the telco more options, both in terms of potentially buying the NBN and selling off its infrastructure assets at an attractive price.

Telstra CEO Andy Penn said the telco would work to ensure the interests of customers, suppliers and debt providers were considered in the restructure as he flagged the sale of all or part of InfraCo Towers by the end of financial year 2022.

“The new structure has been chosen as it delivers a modern, optimal long-term portfolio structure for the Telstra group of businesses, which will maximise flexibility and value realisation of our assets, and deliver optimal outcomes for the Telstra Group as a whole,” Mr Penn said.

Telstra will be knocked down in the rush from local and offshore infrastructure and private equity funds if and when it sells part or all of its towers business. You can bet that Chinese buyers will be barred from the deal.

Investors took the news in their stride and Telstra shares rose just 1.2% to $3.25.


if 3.31 won't stop it's sp rise then i looked at 3.50ish. every dog have it's day,

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early birds
post Posted: Mar 22 2021, 08:21 AM
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“Telstra shareholders will own shares in the new holding company on a like-for-like basis with no change to ownership levels,” the company said.

However, it did warn that certain foreign shareholders may not be eligible to recieve shares in the new company, in which case a nominee will sell their shares in Telstra and they will receive the proceeds of the sale.

Telstra will release a scheme booklet to shareholders in early September.


still 6 months away......
TLS value will be released this way. imho

post Posted: Mar 22 2021, 08:19 AM
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update on Corporate restructure

Telstra today announced the next steps in its proposed legal restructure to enable it to better realise the value of its infrastructure assets, take advantage of potential monetisation opportunities and create additional value for shareholders. The proposed legal structure within the Telstra Group, expected to be completed by December 2021, includes the following:
• InfraCo Fixed, which would own and operate Telstra’s passive or physical infrastructure assets: the ducts, fibre, data centres, and exchanges that underpin Telstra’s fixed telecommunications network. This will provide important optionality to create additional value from these assets in the future.
• InfraCo Towers, which would own and operate Telstra’s passive or physical mobile tower assets, which Telstra is looking to monetise given the strong demand and compelling valuations for this type of high-quality infrastructure.
• ServeCo, which would continue to focus on creating innovative products and services, supporting customers and delivering the best possible customer experience. ServeCo would own the active parts of the network, including the radio access network and spectrum assets to ensure Telstra continues to maintain its industry leading mobile coverage and network superiority.

Telstra also intends to establish its international business under a separate subsidiary within the Telstra Group to keep that part of the business, including subsea cables, together as one entity. The international assets will be transferred to the new subsidiary over time, subject to relevant approvals and engagement with appropriate stakeholders.

"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
early birds
post Posted: Feb 23 2021, 07:40 AM
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23third today, it's last day to hold TLS for the 8cps ff divy , as it will x-divy tomorrow. just in case one of you guys didn't notice !! tongue.gif

might see some action on this old boring dog today?? unsure.gif

post Posted: Feb 12 2021, 07:27 PM
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Ho hum ...
Best case results confirmed and 16 cents dividend for 2021.Outlook far better than I hoped. Actually confirming the second half dividend for 2021 ... what they expect highly unusual ... of course ignored on the main by idiots buying banks who reported, well ... CBA was not inspiring nor many other old high yeilding stocks now in tatters. AGL actually looks lke a train wreck on forward stuff yet market did not hammer it too much..

As to selling towers, its likely to occur and will only add to the picture.

No reason for me to sell at this stage despite a bit higher. Market seems to love banks for some mythical longer term dividends. Reality is that they are unlikely to go above 70% of pre Covid and cap raisings diluting the shares. Bottom line, say for CBA its unlikely to even get to $4- in total a share by 2022 let alone 2021. Its just paid $1.50 .... for the half and whilst the final likely better ... suspect its at say $3.70 for 2021 so well under 5% and in fact 4.25%.

TLS well its a frog, I know its a frog ... but its price and outlook next 2 years compelling. Yield at 5% .... compared to CBA at 4.25%.
Banks paid out far too much in dividends and did not retain enough capital ... so looking forward the payout ratio will be LOWER and they must maintain higher capital adequacy rates than previously.

Market of course, as always disagrees with this for now. They love the banks, ignore the reality that ... the cost of lending and maintaining adequate reserves massively changed in the last 2 years. I have no idea the impacts of Job-keeper and seeker being reduced but unlikely to be good for banks or TLS .... the risk being more bank wise verses TLS.

As vaccines roll out, disturbing to say the least some reactions occurring Moderna and Pfizer and yep being reported ... but swept under carpet by USA based vaccines whilst attacking all others .... Well J+J vaccine single shot seems fine with far less reactions. Oxford .. whilst not perfect, it does seem to prevent 100% of very serious cases less so for moderate ones with new variants of Covid 19 emerging ... only time will tell. Same for the other one approved as well, less hassle and reactions than RNA based ones.

I suspect we have an Endemic ... not a pandemic and will be dealing with covid 19 for years. More papers coming out with strong evidence of lack of immunity to covid 19 and reinfections in the thousands ... clearly documented. Much like a bloody cold ....

Again .. unknown but ... for banks which market seems to love, massive fiscal support is going away. Not sure any form of meaningful overseas travel or migration occurs for some time.

Bottom line, I suspect the market has it all arse about face as per normal and whilst its having a hate affair with many high dividend payers such as TLS and say utilities and many other REITS which are less at risk even with ongoing covid flareups paying say 6% or so .... keeping pace with inflation if that occurs and preferring to back the banks in dreams of some magic recovery when fiscal support is already drying up.

Lastly RBA has made it as clear as one can be. We are at 0.1% for a very very very long time. 2024 and honestly likely beyond that.They are not happy about the currency. Not worried about bubbles .... inflation or anything else. As Lowe pointed out the ASX is below where it was, house prices are merely back to 2 year ago levels.

Wages growth ... virtually impossible right now to see with a lot dislocated and more happening as Job keeper evaporates .... job seeker already cut and likely even more in coming months not say to the $40- a day level but say $50-.
For me, yield and safety .... boring but ... as in say 2011 same thing, different times but being paid massively above the cash rate to hold an asset over time is the only course. Sure USA so full of hot air may pop ... or flop a bit. Some techs at insane levels If I close my eyes and take the 16 cents plus franking credits .... so 20 cents effective verses 0.1% ...

Time will tell.

Enjoy. Will think about TLS if and when its say 15% higher and by then possibly Optus has stopped discounting its third rate mobile service outside the CBD and TLS did actually sneakily raise its plans by $5 a month of late not yet reflected in the numbers. Sounds small buts its one hell of a whack given the low inflation environment outside the idiots buying bitcoin or Game stop.

PS ... I note many analysts were calling a 13 cent dividend ... TLS came out and actually said 8 cents now and they believe 16 cents for 2021, market of course ... did not a lot considering this. Made the valuations in the $3.70 range more likely.

All views expressed are my own opinions. While I take every care when posting no guarantee to the absolute veracity of the postings is given or implied. Please do your own reseach and consult a professional investment advisor before investing.

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