Page 49 - Morrison Co News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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 ...

Future Fund pounces on Telstra’s towers in $2.8b deal Save Share A consortium spearheaded by Australia’s Future Fund has agreed a deal to buy a stake in Telstra’s mobile telecommunications towers portfolio. It is understood Future Fund and its co-investors will pay $2.8 billion to buy a 49 per cent stake in Telstra’s TowerCo, which was slated for divestment later this year. Street Talk.   The deal pre-empts an auction, which was to be run by Macquarie Capital, and comes as Telstra’s arch rival Optus also seeks a buyer for a stake in its telecommunications towers. M...

Three lenders to bankroll Future Fund’s Towers move Save Share Commonwealth Bank of Australia, National Australia Bank and Britain’s Barclays are lined up to help bankroll Future Fund and partners’ $2.8 billion telecommunications infrastructure play. It is understood Future Fund’s syndicate, managed by busy infrastructure investor Morrison & Co, will borrow about $800 million and use the debt to help complete the acquisition. Telstra InfraCo Towers owns about 8200 mobile towers in Australia.   Quentin Jones The debt is expected to be retained by the Future Fund and part...

ASX rallies into EOFY; Telstra at 52-week high on capital return Save Share Duxton Broadacre to pay first dividend Vesna Poljak Duxton Broadacre Farms will pay its first dividend since listing in February 2018, declaring a return of 6.2¢ a share, unfranked, to be paid on July 30 after what it described as “three of the harshest drought years on record”. "The board will consider the payment of a further dividend in December, which will depend on the outlook of the 2021-22 winter crop." 18 mins ago – 1.29PM Used car prices trigger 13pc Eclipx EPS upgrade Vesna Poljak Hot used ...

Advertisement Telstra has sold 49 per cent of its tower business to a consortium of superannuation funds for $2.8 billion and said it would pay out half of that sum to shareholders. The telco giant announced on Wednesday morning it has agreed to sell the stake in InfraCo Towers to Future Fund, Commonwealth Superannuation Corporation and Sunsuper (managed by Morrison & Co), who would become strategic partners in the business. The deal values the business, which is the largest mobile infrastructure provider in the country with about 8200 towers, at $5.9 billion. Telstra has entered a 15 year ag...