I can't see the 18% changing until full rollout of 5G is complete, will be operational in 2019 but full rollout likely 2023, only caveat to that is what effect will 5G and IOT have on revenue? (higher revenue = lower % and of course vice versa, may hit 20% for a while on lower revenue)
As things stand the spend wont rollback CAPEX spending until 2023, also happens to be the end of NBN rollout.
Oh ut yes of course TLS will be held back by not being able to advertise 5G as NBN replacement..........
Like mobile was advertised as land line replacement?
Natural evolution like Darwinian theory whereas the NBN is Intelligent Design
Ps: I added in lower revenue scenario for the sycophants
Pps: CrazyP, my personal expectation is around 13% CAPEX for a few years once it winds down a little (2023-2025) but 15% as a healthy ongoing average amount to hold their position. It would be mistake to drop it that low but an expected one for glory points for whomever is running TLS then, someone will take the quick glory rather than investing for growth which is what Penn is doing.
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