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☆ Australia's TPG Telecom ends $4 billion fibre sale talks with Vocus
▼ + stars: | 2023-11-12 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Jason Reed/File Photo Acquire Licensing RightsNov 13 (Reuters) - Australia's TPG Telecom Ltd (TPG.AX) said on Monday it had ended discussions with Macquarie-backed rival Vocus Group for the sale of some of its non-mobile fibre assets for about A$6.3 billion ($4.00 billion) as the parties failed to agree commercial terms. "The proposed transaction involved considerable complexity and, ultimately, the parties have been unable to reach alignment on the operating model and commercial terms," TPG Telecom said in a statement. In August, Vocus had made a non-binding offer to TPG Telecom to acquire certain Enterprise, Government and Wholesale (EGW) assets and associated fixed infrastructure assets, including wholesale broadband business Vision Network. The collapse of the fibre sale deal with Vocus is a second such setback for TPG Telecom, whose asset swap deal with bigger rival Telstra Group (TLS.AX) was blocked by the country's antitrust regulator and Australian Competition Tribunal. Under the asset swap deal, Telstra would have bought spectrum and transmission towers from TPG, while TPG would have kept selling 4G and 5G coverage using Telstra infrastructure.

Persons: Jason Reed, Vocus, Himanshi, Sandra Maler, Grant McCool Organizations: REUTERS, Australia's TPG Telecom Ltd, Vocus Group, TPG Telecom, Enterprise, Government, Wholesale, Vision Network, TPG, Vocus, Telstra Group, Australian Competition, Telstra, Thomson Locations: Sydney, Australia, Macquarie, Bengaluru

☆ Australia to investigate Optus internet and phone outage
▼ + stars: | 2023-11-08 | by ( Renju Jose | ) www.reuters.com time to read: +2 min

SYDNEY, Nov 9 (Reuters) - Australia said on Thursday it would launch an investigation into a 12-hour national outage at telco Optus that cut off internet and phone connections to nearly half of its population, hitting critical services including payments, transport and hospitals. The federal government would undertake a post-incident review into the outage, Communications Minister Michelle Rowland said, describing its impacts as "particularly concerning." Australia's media regulator will conduct a separate review into the outage after emergency triple zero ("000") calls went down on Optus landlines, Rowland added. Optus, owned by Singapore Telecommunications (STEL.SI), has not given the cause for the unprecedented outage, one of the biggest the country has witnessed. The outage happened 14 months after Optus was hit by one of Australia's biggest cyber breaches.

Persons: telco, Michelle Rowland, Rowland, Renju Jose, Jamie Freed Organizations: SYDNEY, Optus, Optus landlines, Singapore Telecommunications, Telstra, Australian Broadcasting Corp, Thomson Locations: Australia, Sydney

SYDNEY, Sept 29 (Reuters) - The blocking of three major deals by Australia's antitrust regulator in the past year was a coincidence, its chair told Reuters, pushing back against concerns among bankers that it has become deal-averse. "There happens to have been a sequence, frankly coincidentally as it turns out, of oppositions," ACCC Chair Gina Cass-Gottlieb said in an interview. There are some concerns that it could be blocked as Brookfield owns AusNet, a poles and wires asset in Victoria state. Cass-Gottlieb also said she doubted foreign investors have been dissuaded from pursuing deals in Australia which does not require companies to get formal clearance before proceeding with a takeover. "The recent stream of merger blockages will make foreign investors think twice."

Persons: Gina Cass, Gottlieb, Canada's Brookfield, Cass, Stephen Corones, Hannah Marshall, it's, Byron Kaye, Scott Murdoch, Edwina Gibbs Organizations: Australian Competition, Consumer Commission, Telstra, TPG, ANZ, Transurban, Origin Energy, Brookfield, FOCUS Cass, Investors, Queensland University of Technology, Cass, Marque Lawyers, Thomson Locations: Melbourne, AusNet, Victoria, Australia, Queensland

The logo of accounting firm PricewaterhouseCoopers (PwC) is seen on the top of a Brussels' office of the company, in Diegem, Belgium September 21, 2023. REUTERS/Yves Herman Acquire Licensing RightsSYDNEY, Sept 27 (Reuters) - PwC Australia will appoint outsiders to its board and publish audited financial statements as part of a governance overhaul to bring the partnership closer to public company standards following a scandal over the leak of confidential tax documents. PwC Australia will announce plans on Wednesday to apply some Australian Stock Exchange governance principles including appointing two non-executive directors and a non-executive chair to its board, according to excerpts of plans provided by PwC. The changes form part of PwC Australia's response to a months-long independent review into its governance and culture, which will be published in full on Wednesday. Australia said last month it would drastically toughen penalties against those who promote dodgy tax schemes and strengthen regulators in response to the scandal.

Persons: Yves Herman Acquire, Kevin Burrowes, Ziggy Switkowski, Lewis Jackson, Kim Coghill Organizations: PricewaterhouseCoopers, REUTERS, Rights, Facebook, Australian Stock Exchange, PwC, “, Telstra, Thomson Locations: Brussels, Diegem, Belgium, Australia

☆ Telstra Chairman Mullen to retire after 15 years
▼ + stars: | 2023-08-27 | by ( ) www.reuters.com time to read: +1 min

A pedestrian walks past a Telstra logo adorning a phone booth in the central business district (CBD) of Sydney in Australia, February 13, 2018. REUTERS/David Gray/File Photo Acquire Licensing RightsAug 28 (Reuters) - Australia's Telstra (TLS.AX) said on Monday that its chairman John Mullen would retire at the conclusion of this year’s annual meeting on October 17. After serving on the telecom major's board for 15 years, the company said Mullen will be succeeded as chairman by current director Craig Dunn. Mullen served as chairman for the past seven years. The country's largest telecoms firm expects underlying EBITDA between A$8.2 billion and A$8.4 billion ($5.38 billion)for fiscal 2024, higher than A$7.86 billion in the previous year.

Persons: David Gray, John Mullen, Mullen, Craig Dunn, Dunn, Aishwarya Nair, Diane Craft Organizations: Telstra, REUTERS, Australia's Telstra, Risk, Thomson Locations: Sydney, Australia, Asia, Bengaluru

☆ Australia's Telstra shelves InfraCo stake sale plan, shares down
▼ + stars: | 2023-08-17 | by ( Poonam Behura | ) www.reuters.com time to read: +2 min

The country's largest telecoms firm decided against selling a stake in InfraCo Fixed, saying the unit "plays an important role" in achieving its long-term goals. InfraCo Fixed posted a 4.1% rise in annual income to A$2.56 billion ($1.64 billion), contributing 11% to Telstra's total income of A$23.25 billion. Telstra is targeting net cost reductions of A$500 million and mid-single digit underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) growth through to FY25. It expects underlying EBITDA between A$8.2 billion and A$8.4 billion for fiscal 2024, higher than A$7.86 billion in the previous year. We remain absolutely committed to delivering our FY25 underlying EBITDA and EPS growth ambitions," Brady said.

Persons: David Gray, Henry Jennings, Vicki Brady, Brady, Poonam Behura, Anil D'Silva, Subhranshu Organizations: Telstra, REUTERS, Australia's Telstra, InfraCo, Marcustoday, TPG Telecom, Thomson Locations: Sydney, Australia, Bengaluru

☆ The US Army is rushing to rearm its electronic warriors after watching Russia and Ukraine jam each other's drones
▼ + stars: | 2023-08-15 | by ( Michael Peck | ) www.businessinsider.com time to read: +6 min

Electronic warfare has played a prominent role during the war in Ukraine. This has put fresh impetus behind the US Army's electronic-warfare upgrades. Concern about electronic warfare, or EW, isn't new, nor is the US deficient in all EW aspects. For its part, Russia has been able to use electronic warfare to send Ukraine's GPS-guided JDAM glide bombs and HIMARS rockets off course. Most armies — or at least the high-tech ones — are vulnerable to electronic warfare, but the US military is especially vulnerable because its way of war is so dependent on electronic communications.

Persons: Douglas Bush, Simon Mictizic, Bush, Charles Brown Jr, Denis Abramov, Brown, Lockheed Martin, Michael Peck Organizations: Service, US Army, Army, Army's 1st Infantry Division, Staff, Air Force, Joint Chiefs of Staff, Navy, Russian Defense Ministry, Mil.ru, Domain Command, GPS, Support Force, US, Combat, Stryker, TLS, Defense, Foreign Policy, Twitter, LinkedIn Locations: Ukraine, Russia, Wall, Silicon, Russian, China, Forbes

☆ Aussie telecom firms Telstra, TPG will not appeal block of asset transfer deal
▼ + stars: | 2023-08-13 | by ( ) www.reuters.com time to read: +1 min

REUTERS/David Gray/Aug 14 (Reuters) - Australian telecom firms Telstra Group (TLS.AX) and TPG Telecom (TPG.AX) on Monday said separately they would not appeal the country's competition tribunal's decision to block an asset transfer deal between the two telecom giants. In June, the Australian Competition Tribunal upheld the competition regulator's decision to block the deal between the telecom firms, under which Telstra would have bought spectrum and transmission towers from TPG, while TPG would have kept selling 4G and 5G coverage using Telstra infrastructure. The country's competition regulator had ruled against the asset transfer deal in December citing competition concerns and potentially impacting the no. Telstra did not provide any details about its decision to not appeal the tribunal's decision in the exchange filing, and did not immediately respond to a Reuters request for further details. TPG Telecom, which also did not provide any reason, said it would "continue to explore commercial options to expand its mobile network".

Persons: David Gray, Sameer Manekar, Diane Craft Organizations: Telstra, REUTERS, Australian, Telstra Group, TPG Telecom, TPG, Optus, Singapore Telecommunications, Thomson Locations: Sydney, Australia, Bengaluru

The logo of the ANZ Bank is seen at Lambton Quay, in Wellington, New Zealand November 10, 2022. "A substantial lessening of competition in home loans would have major flow-on impacts to Australians with a mortgage," he added. The companies said they would seek a review of the determination at the Australian Competition Tribunal, an offshoot of the federal court which oversees takeover rulings. Taking the deal to the competition tribunal would delay its completion to mid-2024, if the tribunal approved it, from the late 2023 timeline the companies gave when they announced it a year ago. The ANZ-Suncorp deal also needs sign-off from Treasurer Jim Chalmers who declined to comment.

Persons: Lucy Craymer, Mick Keogh, Gina Cass, Gottlieb, Jim Chalmers, Byron Kaye, Himanshi, Stephen Coates Organizations: ANZ Bank, REUTERS, ANZ, Suncorp, ANZ Group, Australian Competition, Consumer Commission, Australian Competition Tribunal, Citi, Telstra, TPG Telcom, Thomson Locations: Lambton Quay, Wellington , New Zealand, Melbourne, Sydney, Bengaluru

☆ TPG Telecom gets $4.2 bln offer for non-mobile fibre assets from Vocus
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

TPG Telecom said that Vocus made a non-binding offer to acquire certain Enterprise, Government and Wholesale (EGW) assets and associated fixed infrastructure assets, including wholesale broadband business Vision Network. Shares of TPG Telecom ended 11.6% higher at A$5.600 after resuming trading, marking their biggest intraday jump ever and finishing the day at their highest closing level since May 15. TPG Telecom said it has provided Vocus exclusive due diligence, which is set to expire on September 6. A spokesperson for Vocus said "discussions with TPG are confidential, subject to conditions and regulatory approvals. ($1 = 1.4977 Australian dollars)Reporting by Sameer Manekar in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Vocus, Sameer Manekar, Sonia Cheema Organizations: TPG, TPG Telecom, Enterprise, Government, Wholesale, Vision, Telstra Group, Telstra, Vision Network, Australian Financial, Asset Management, Thomson Locations: Macquarie, Vocus, Bengaluru

☆ Telstra partners with Elon Musk's Starlink for internet in remote Australia
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +1 min

July 3 (Reuters) - Australia's top telecom firm Telstra Group (TLS.AX) said on Monday it will partner with Elon Musk's Starlink to provide fixed broadband and voice services to rural Australians. The telecommunications provider will bring home phone service and Starlink broadband services as a bundle to Australians, it said on a blog post. "The addition of Starlink will provide an additional connectivity option for people and businesses in rural and remote locations," the company added. Telstra expects to be able to offer the new service options to both customers and businesses towards the end of the year. Starlink, operated by Musk's SpaceX, has built a fast-growing network of more than 3,500 satellites in low-Earth orbit that can provide connectivity in remote areas.

Persons: Elon Musk's, Rishav Chatterjee, Krishna Chandra Organizations: Telstra Group, Telstra, Lines, Musk's SpaceX, Thomson Locations: Bengaluru

☆ Telstra-TPG Telecom network sharing deal blocked by Australia's competition tribunal
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: 1 min

June 21 (Reuters) - The Australian Competition Tribunal has upheld a decision to block a network sharing agreement between wireless internet firms Telstra Group (TLS.AX) and TPG Telecom (TPG.AX), TPG said on Wednesday. The Australian Competition and Consumer Commission (ACCC) had ruled against the plan in December, saying it would bring "a real risk that TPG and Optus will invest less in critical infrastructure". Optus, the country's No. 2 wireless internet provider and which is owned by Singapore Telecommunications (STEL.SI), had opposed the deal, saying it would build Telstra's market dominance. Reporting by Harish Sridharan in Bengaluru; Editing by Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

Persons: Harish Sridharan, Subhranshu Sahu Organizations: Australian, Telstra Group, TPG Telecom, TPG, Australian Competition, Consumer Commission, Optus, Singapore Telecommunications, Thomson Locations: Bengaluru

☆ Australia's competition tribunal blocks Telstra-TPG Telecom network deal
▼ + stars: | 2023-06-21 | by ( Harish Sridharan | ) www.reuters.com time to read: +3 min

2 wireless internet provider owned by Singapore Telecommunications (STEL.SI). TPG said it would review the tribunal's decision before considering its options for further appeal, including a judicial review in the Federal Court. Telstra shares were up 0.7% in early trade, while TPG's shares fell as much as 10.8%, the biggest intraday decline since August 2022. Optus, which had previously opposed the deal on the grounds it would build Telstra's market dominance, said it welcomed the tribunal's decision. "The tribunal's decision was a decisive move for competition in the sector," Commpete Chair Michelle Lim said.

Persons: Vicki Brady, Kelly Bayer Rosmarin, Commpete, Michelle Lim, Harish Sridharan, Subhranshu Sahu, Jamie Freed, Sherry Jacob, Phillips Organizations: Companies Telecom, Optus, TPG Telecom, TPG, Telstra, Australian Competition Tribunal, Telstra Group, Australian Competition, Consumer Commission, Singapore Telecommunications, ACCC, ACT, Thomson Locations: Bengaluru

☆ Factbox: Penalties imposed on Australian companies over the recent years
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +3 min

Here are some of the major penalties imposed by the regulators:AMP LTD (AMP.AX)Troubled Australian wealth manager AMP Ltd was fined a court-mandated penalty of A$24 million in May for billing dead clients for insurance and financial advice. In October 2022, ANZ was penalised A$25 million for failing to provide certain benefits it had agreed to give customers. In October 2022, CBA's trading unit was fined A$20 million for compliance failures in delivering financial services. NATIONAL AUSTRALIA BANK (NAB.AX)National Australia Bank, the country's second-largest bank, was charged A$18.5 million penalty in August 2021 by a court for issuing misleading fee disclosure statements or none at all. WESTPAC BANKING CORP (WBC.AX)Australia's third-biggest lender, Westpac Banking Corp was ordered to pay A$113 million in penalties in April 2022 for multiple compliance failures across its businesses.

☆ Columns That Scrutinized, and Skewered, the Literary World
▼ + stars: | 2023-05-22 | by ( Dwight Garner | ) www.nytimes.com time to read: +1 min

NB BY J.C.: A Walk Through the Times Literary Supplement, by James CampbellIf you are a subscriber to the Times Literary Supplement, or TLS, that august literary review out of London, you know that its good, gray issues roll in every week, more quickly than it is possible to keep up. Davis didn’t mention it, but one part of the TLS no one skips, in my experience, is the NB column, which runs inside the back cover. This correspondent has officially been outed as James Campbell, a biographer of James Baldwin and a longtime editor at the magazine. He was a good steward of the column, and his best material has been collected now in “NB by J.C.: A Walk Through the Times Literary Supplement.”His NB was not a gossip column, Campbell explains. He hoped never to see the words “Martin” and “Amis” in proximity, and he mostly lived up to that vow.

☆ Australia's TechnologyOne halts trading after being hit by cyber attack
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +1 min

May 10 (Reuters) - Australia's TechnologyOne Ltd (TNE.AX) said on Wednesday it had detected an unauthorised third-party access to its back-office systems, becoming the latest target in a series of cyber attacks that has bogged companies in the country since last year. "TechnologyOne's customer-facing SaaS platform is not connected to the Microsoft 365 system, and therefore, has not been impacted," the enterprise software maker reassured its customers in an exchange filing. The software maker immediately went on a trading halt after the announcement, and said it has isolated the affected systems and will contact the impacted customers after an investigation is conducted. Major firms such as top grocer Woolworths Ltd (WOW.AX), and telecoms Telstra (TLS.AX) and TPG Telecom (TPG.AX) have reported data breaches and unauthorised access, bringing to light corporate vulnerability to cyber attacks. Reporting by Sameer Manekar in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks shrug off rates risk as U.S. consumers spend
▼ + stars: | 2023-02-16 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Equities - with the Nasdaq (.IXIC) up 15% so far this year - are clinging to the positives, while in interest rate markets investors are quickly ditching hopes for cuts later in 2023. Two-year Treasury yields , which also track short-term interest rate expectations, hit their highest since November at 4.703% overnight. S&P 500 futures rose 0.2%. Elsewhere the repricing of the interest rates outlook is putting an end to a couple months of selling of the dollar in currency markets. The U.S. dollar index is eying a third weekly gain in a row - the longest streak since September, when the index was galloping towards a 20-year high.

☆ Thousands rally for 'Invasion Day' protests on Australia Day holiday
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Jan 26 (Reuters) - Thousands of Australians marked the country's national holiday on Thursday with rallies in support of the nation's Indigenous people, many of whom describe the anniversary of the day a British fleet sailed into Sydney Harbour as "Invasion Day". An annual poll by market research company Roy Morgan released this week showed nearly two-thirds of Australians say Jan. 26 should be considered "Australia Day", largely unchanged from a year ago. The rest believe it should be "Invasion Day". Australia's largest telecoms company, Telstra Corp Ltd (TLS.AX), this year gave its staff the option to work on Jan. 26 and take another day off instead. The constitution, which came into effect in January 1901 and can't be amended without a referendum, does not refer to the country's Indigenous people.

☆ Australia blocks Telstra-TPG wireless internet deal, sparking legal fight
▼ + stars: | 2022-12-21 | by ( Byron Kaye | ) www.reuters.com time to read: +3 min

SYDNEY, Dec 21 (Reuters) - Australia's antitrust regulator blocked an asset transfer deal between Telstra and TPG, the country's No.1 and No.2 wireless internet firms, citing competition concerns, setting the scene for a legal battle over access to four million customers. In a deal announced in May, Telstra Group (TLS.AX) was to buy spectrum - airwaves which carry wireless internet - and transmission towers from TPG Telecom Ltd (TPG.AX), while TPG would keep selling 4G and 5G coverage using what would become Telstra's infrastructure. 3 wireless internet provider Optus, owned by Singapore Telecommunications (STEL.SI), opposed the deal saying it would build Telstra's market dominance. The decision sets up a second legal showdown between TPG and the ACCC in just over two years. "By knocking back this deal, the ACCC has helped ensure that our regional communities will continue to benefit from competition," said Optus CEO Kelly Bayer Rosmarin in a statement.

☆ Australia rejects Telstra, TPG's network-sharing deal; firms to appeal
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +2 min

Dec 21 (Reuters) - The Australian Competition & Consumer Commission (ACCC) on Wednesday rejected TPG Telecom's (TPG.AX) regional network-sharing agreement with Telstra Group (TLS.AX), and said the deal would significantly weaken overall competition in the country. TPG's shares tanked nearly 6% to a record low following the news, while Telstra slipped 0.1%. In February, the telecom giants signed a regional multi-operator core network agreement under which Telstra — the country's largest telecoms operator — would gain access to TPG's 4G and 5G spectrums. TPG and Telstra expressed disappointment with the competition regulator's decision, which the latter said it would appeal against, while rival telecoms firm Optus — owned by Singapore Telecommunications (STEL.SI) — welcomed it. ACCC noted the network-sharing arrangement is proposed at a time when all the three companies — TPG, Telstra and Optus — are competing in the roll-out of 5G infrastructure including in regional areas.

☆ Australia's competition watchdog rejects Telstra-TPG network sharing deal
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +1 min

Dec 21 (Reuters) - Australian Competition & Consumer Commission (ACCC) on Wednesday rejected TPG Telecom's (TPG.AX) network sharing agreement with Telstra Corp (TLS.AX), saying the deal would significantly weaken competition in the country. 2 internet service provider - said it was "disappointed" with the Australian competition regulator's decision and is preparing an application for a review of the decision. In February, the companies signed a regional multi-operator core network agreement under which Telstra, the country's largest telecoms operator, would gain access to TPG's 4G and 5G spectrums. The deal was expected to deliver between A$1.6 bln ($1.07 bln) and A$1.8 billion of revenue to Telstra over the initial 10-year term. Reporting by Navya Mittal in Bengaluru; Editing by Anil D'Silva and Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Australia's Telstra suffers privacy breach, 132,000 customers impacted
▼ + stars: | 2022-12-11 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Dec 11 (Reuters) - Australia's largest telecoms firm Telstra Corp Ltd (TLS.AX) said on Sunday that 132,000 customers were impacted by an internal error that led to disclosure of customer details. The errant disclosure comes after the company in October suffered what it called a small data breach, attributing it to third-party intrusion that exposed some employee data back to 2017. A Telstra internal staff email put the number of affected current and former employees of that breach at 30,000, according to local media. "Protecting our customers’ privacy is absolutely paramount and this is an unacceptable breach of their trust," he added. "We are in the process of contacting every impacted customer to let them know what has occurred."

☆ Australia sues Telstra for not informing customers of downgrade in internet speed
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +1 min

Dec 6 (Reuters) - Australian competition regulator on Tuesday took the country's top telecom firm Telstra Corp (TLS.AX) to court for failing to inform some customers about downgrading the upload speed of its broadband plan. The Australian Competition & Consumer Commission (ACCC) initiated the lawsuit in the Federal Court, alleging it downgraded broadband upload speed for nearly 9,000 residential customers in October and November 2020 without informing them or lowering its charges. The regulator alleged that the affected customers had opted for Telstra's cheaper broadband offering, Belong, between May 2017 and October 2020. While around 2,500 customers were remediated with a one-off A$90 credit after Telstra acknowledged the error in early-2021, it is yet to inform more than 6,300 customers of the downgrade to their maximum upload speed, the ACCC alleged. Reporting by Sameer Manekar in Bengaluru; Editing by Rashmi Aich and Uttaresh.VOur Standards: The Thomson Reuters Trust Principles.

☆ Australian telecom firms fined $22.1 mln for false internet speed claims
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +1 min

Nov 11 (Reuters) - Three Australian telecom firms have been ordered by a court to pay a collective A$33.5 million ($22.08 million) in penalties for making misleading claims about speeds of some NBN internet plans, the country's competition regulator said on Friday. The Australian Federal Court has ordered Telstra (TLS.AX) to pay A$15 million, a unit of TPG Telecom (TPG.AX) to cough up A$5 million, and imposed a fine of A$13.5 million on Optus, a unit of Singapore Telecommunications (STEL.SI), the Australian Competition & Consumer Commission (ACCC) said. All three telcos have admitted in court of making false or misleading statements, the regulator said, claiming nearly 120,000 customers were affected. According to the ACCC, the false or misleading statements were made for at least 12 months in 2019 and possibly extended until 2020, related to their 50 Megabits per second (Mbps) or 100Mbps fibre to the node plans. ($1 = 1.5175 Australian dollars)Reporting by Harshita Swaminathan; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Australia Inc roiled by raft of cyberattacks this year
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +2 min

[1/3] A woman uses her mobile phone as she walks past in front of an Optus shop in Sydney, Australia, February 8, 2018. The data exposed included home addresses, drivers' licences and passport numbers. AUSTRALIAN CLINICAL LABSAustralian Clinical Labs Ltd (ACL.AX), one of the country's largest pathology providers, said unit Medlab suffered a breach that exposed data of about 223,000 patients. TELSTRAAustralia's largest telecoms operator Telstra (TLS.AX) suffered what it called a small data breach, which exposed data of about 30,000 current and former employees dating back to 2017. Compiled by Jaskiran Singh in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

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