Telstra raises digital infrastructure budget to $1.8B
- Telstra Group lifted its strategic digital infrastructure spending estimate to around $1.8 billion through FY28.
- The company's shares fell over two sessions to $4.65 amid broader telecommunications market competition.
- The expenditure increase supports satellite expansion and infrastructure alongside executive accountability measures.
Telstra Group (ASX:TLS) announced ahead of its annual general meeting that its strategic digital infrastructure investment is now projected to reach around $1.8 billion through FY28.
The updated figure represents a $200 million increase from the company’s previous estimate of around $1.6 billion for the infrastructure rollout.
"We now expect the total strategic investment, which includes ground infrastructure to support Viasat’s next-generation satellite services in Australia, to be around $1.8 billion through to FY28, compared with our previous estimate of around $1.6 billion," said Telstra Group.
The increased budget includes ground infrastructure designed to power satellite services across Australia, though the company noted it remained confident in the project's financial returns.
Following the announcement, the Telstra Group share price was down at $4.65.
The annual general meeting comes shortly after chief executive Vicki Brady had her short-term incentive reduced by about $600,000 following a July 8 network outage that impacted access to Triple Zero services.
