Telstra sells towers stake to Future Fund for $2.8b
Telstra sells towers stake to Future Fund for $2.8b Share Telstra has sold half of its mobile infrastructure business InfraCo Towers to a consortium of investors that includes the Future Fund, SunSuper and the Commonwealth Superannuation Corporation for $2.8 billion. Completion of the transaction is expected before the end of September, well ahead of its previously announced schedule, and Telstra said in a statement to the ASX that it would return half of the sale proceeds to shareholders via a buy back and other methods within the next financial year. It has entered a 15 year agreement with ...