Shares in Telstra Corporation Limited (ASX:TLS) closed at a nine-year high after announcing plans to create one of the world’s largest Wi-Fi networks.
Australia’s biggest telco says the plans forms part of a $100 million-plus strategy to boost connectivity across Australia.
Under the strategy Telstra aims to offer Australians access to two million Wi-Fi hotspots across the nation within five years and more than 12 million hotspots internationally.
The network is scheduled to launch early 2015 and access will be granted irrespective of whether individuals are Telstra customers or not.
CEO David Thodey says the plan will help meet current data needs and deliver future capacity for the expected explosion of Wi-Fi traffic.
Shares in Telstra Corporation rose 0.76 per cent on Tuesday to close at a nine-year high of $5.30.
Telstra Corporation reported a net profit of $1.7 billion in the first half of its 2014 financial year.
