Original article by David Swan, James Madden
The Australian – Page: Online : 17-Sep-21

Telstra CEO Andy Penn says the telco would retain its stake in Foxtel should the pay-TV and streaming group pursue a sharemarket float. He regards Telstra as a long-term investor in Foxtel, but concedes that its 35 per cent would most likely be diluted via an IPO. Penn adds that Telstra would be open to an IPO if it provided more opportunities for Foxtel in the future. He also says Foxtel’s focus on digitisation has allowed it to meet the challenges presented by streaming rivals such as Netflix.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, NETFLIX INCORPORATED