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TPG mulls tower sale, H1 profit slips

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Internet and mobile provider TPG Telecom may follow Telstra's lead and sell some of its telecommunication towers as the merged entity pursues opportunities.

TPG told the ASX demand for telecommunications assets was strong and the value of its 5,800 rooftops and towers was being assessed.

Vodafone-Hutchison Australia owned most of these properties prior to its merger with TPG, which began last year.

If a sale eventuates, TPG Telecom would likely lease the towers to continue providing services.

Telstra this year sold part of its mobile towers business for $2.8 billion. This month it said about half the proceeds would be given to shareholders via an on-market buyback.

TPG on Friday declared first-half net profit after tax had fallen by eight per cent to $76 million.

The fall was partly due to a $226 million accounting credit to income tax expense in 2020.

The carrier is encouraging customers to leave services on the National Broadband Network for those on TPG networks. The carrier can make more money this way.

It is also building a mobile network based on the latest technology, 5G, which provides faster downloads.

The company also operates AAPT, iiNet, Internode and Lebara services.

Shareholders will receive an interim payout of eight cents per share.

Shares were down 1.13 per cent to $6.53 at 1531 AEST.

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