Telstra is on the lookout for a new business in the competitive Asian market after selling its 76% share in Hong Kong’s CSL.
The $US2.42 billion ($2.7 billion) sell to Hong Kong Telecommunications has seen the Australian telco’s shares rally to a nine-year high.
“The team is focused on refining and enhancing our strategy across Asia and identifying further opportunities to build our capability in the region,” Telstra chief David Thodey told News Limited.
Telstra expects to make a profit of about $600 million on CSL.
Read more here.
Business Insider Emails & Alerts
Site highlights each day to your inbox.