Telstra Buyback Nears A$1.25 Billion Cap as Mobile Price Rises Face Their First Test
Telstra Group Limited is now roughly A$140 million shy of hitting its A$1.25 billion on-market buyback cap, according to a daily market filing. The company snapped up another 1.14 million ordinary shares on May 14. An on-market buyback refers to Telstra purchasing its own shares in the open market. This comes into focus as the program nears its finish line. Telstra’s filing points to a proposed wrap-up on June 30, with numbers showing total consideration at about A$1.11 billion—roughly 89% of the cap.