Australian telecom Telstra outlined a plan on Thursday, under which it aims to extend 5G coverage to 95% of the country by the end of 2025 and cut A$500 million ($366.85 million) in net costs.
The cost reductions under the new plan, dubbed T25, are on top of the A$2.7 billion already being targeted under its current T22 strategy, the company said.
The plan will kick off on July 1, 2022, and includes the potential rollout of a 6G network.
Telstra also said it was confident of maintaining a minimum 16 Australian cent per share fully franked dividend through T25.
The company, which was split into three in November, sold a 49% stake in its mobile tower business for A$2.8 billion in July.
Telstra has been trying to restructure its operations as it faces persistent headwinds on its fixed-line business from the rollout of a state-owned broadband network.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
