The NBN is one of Australia’s largest infrastructure projects, it’s meant to give fast internet access to all Australians who hook up to it.

Telstra Corporation Ltd (ASX: TLS) owned most of the telecommunications infrastructure before the NBN, which gave it a significant advantage because competitors had to pay to access it.

Now that NBN Co. owns the infrastructure, Telstra has lost its advantage and every company is on an even playing field.

If all companies are offering the same product, it will be the cheapest ones that steal market share.

One company that I think will steal market share is TPG Telecom Ltd (ASX:TPM) which owns the iiNet and TPG brands. TPG is already a large player in the telecommunications game with a market capitalisation of $6.1 billion.

TPG offers unlimited data on the NBN for $60, which sets a price ceiling as you can’t sell any more data. For other competitors to compete on value, they would have to price match the $60.

TPG has a good opportunity to grow organically by taking market share, but it could still expand into other areas with acquisitions.

It’s currently bidding for Singapore’s fourth mobile phone licence, which although not a big market, would give TPG another avenue for growth.

There has been speculation over the last few years that TPG was looking at acquiring Vodafone Australia.

That potential move could instantly make TPG a big player in the mobile telecommunications sector. This idea has gone quiet, but I’m sure TPG would like a share of the mobile market.

Being a low price company has clearly helped TPG, during FY16 it grew revenue by 88% and earnings per share by 61%. TPG is forecast to grow earnings per share by 2.9% in FY17, which looks good because it’s trading at 18.9x FY17’s estimated earnings and expected to grow by a further 18% in FY18. TPG has a grossed up dividend yield of 2.79%.

Another provider that wants to offer low cost NBN deals is Amaysim Australia Ltd (ASX: AYS). It has managed to grow its mobile user base quite significantly and now it wants a piece of the broadband market too.

Amaysim probably won’t turn into a major player, but it does have the opportunity to take customers away from the large incumbents.

Amaysim is currently trading with a price/earnings ratio of 31.6 and a dividend yield of 3.81%.

Foolish takeaway

The telecommunications industry as a whole has been smashed in recent months, but I think this provides an opportunity for a cheaper entry price for Foolish investors.

The NBN makes it a level playing field that allows smaller, nimbler businesses to challenge. Out of the two I think TPG is the better buy because of the several large avenues of growth that TPG can still pursue.

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Motley Fool contributor Tristan Harrison has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.