Andy Penn might have been stuck at home during COVID-19 but that hasn't stopped him from imagining a radically different structure and direction for Telstra.
Telstra’s favourite word right now is “optionality”. Andy Penn’s planned restructuring of the company into three distinct businesses certainly provides plenty of that for investors. What’s less obvious is how well this will work to reduce prices for millions of Telstra households.
As Penn points out, demand for connectivity is insatiable. COVID-19 has greatly accelerated this trend but the pace of growth won’t slow, no matter what happens with a potential vaccine or an eventual return to the office.
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Jennifer Hewett is the national affairs columnist. She writes a daily column on politics, business and the economy. Connect with Jennifer on Twitter. Email Jennifer at jennifer.hewett@afr.com
