Telstra Buyback Nears A$1.25 Billion Cap as Mobile Price Rises Face Their First Test
Telstra bought 1.14 million shares for A$6.05 million on May 14, moving within A$140 million of its A$1.25 billion buyback cap, a market filing showed. The program, set to end June 30, has covered about 219.38 million shares so far. Telstra raised most mobile plan prices this month, intensifying competition with Optus and TPG. The company reported A$1.1 billion half-year profit in February, up 9%.