Original article by David Swan
The Australian – Page: 15 : 1-Jul-21
Telstra has struck a deal to sell a 49 per cent stake in its mobile phone tower network to a consortium that includes the Future Fund. The telco had previously flagged plans to divest a stake in the InfraCo Towers business via an auction process later in 2020, but Telstra CEO Andrew Penn says the consortium approached it with a "compelling" proposal. Telstra will return about half of the net proceeds of the $2.8bn transaction to its shareholders. Optus is also looking at selling its communications towers.
TELSTRA CORPORATION LIMITED – ASX TLS, AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY, SINGTEL OPTUS PTY LTD