SYDNEY: Following a strategic and financial review of Foxtel initiated by News Corp, Telstra today announced an agreement to divest its 35 per cent shareholding in Foxtel to DAZN alongside the divestment of News Corp’s 65 per cent shareholding announced this morning. Telstra will receive $128 million in cash for repayment of shareholder loans and…
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Telstra to acquire Versent for $267.5 million
SYDNEY, AUSTRALIA: Telstra intends to acquire technology consultancy Versent for $267.5 million to help scale its Telstra Purple tech services business, drive NAS growth and support the digitisation of businesses and Australian industry, a statement noted. Versent reported $130m net revenue in FY23, representing a strong 17 per cent CAGR between FY20-23. Its team of…
Telstra will invest $1.6bn in telecommunication and fibre network projects
SYDNEY, AUSTRALIA: Telstra will invest $1.6 billion approximately in two major telecommunications infrastructure projects to support the nation’s digital economy and enable unprecedented levels of connectivity across Australia. The two distinct projects are: • Building and managing the ground infrastructure and fibre network in Australia for Viasat, a global communications company. This program will support…
Telstra partners Australian Gov’t to acquire Digicel Pacific for $1.6bn
SYDNEY, AUSTRALIA: Telstra partnered with the Australian Government to acquire the Digicel business in the South Pacific region for US$1.6 billion. Moreover, an additional US$250 million to be paid subject to business performance over the next three years. The Digicel business will be owned and operated by Telstra. Telstra is contributing US$270 million of equity…
Telstra Board Directors to retire at AGM
LONDON, UK: Telstra Directors Margie Seale and Peter Hearl announced their intention to retire from the Telstra Board. Margie will be retiring at the company’s annual general meeting on 12 October and Peter will retire on 31 December 2021. Margie has reached the end of her third, three-year term and has served on the Audit…
Telstra investing $277 million to secure 5G spectrum across Australia
SYDNEY: Telstra Corporation has secured 1000 MHz in the 26 GHz spectrum auction, investing $277 million to further extend its leadership in 5G now and into the future, a news release said. Telstra secured the spectrum in all major capital cities and regional areas where it was sold. Telstra CEO Andrew Penn said the new…
Telstra plans transition to full ownership for its retail stores across Australia
AUCKLAND: Telstra has announced its intention to transition to full Telstra ownership for its bricks and mortar branded retail stores across Australia. Negotiations with independent licensees about an agreed transition to Telstra ownership wil begin shortly and that process, which includes plans to offer roles to current store staff in the majority of cases as…
Ventia wins $570 million Field Optimisation contract with Telstra
SYDNEY: Essential services provider Ventia has announced award of a significant contract with Telstra. The three-year Field Optimisation Contract has estimated revenue of $570 million based on expected volumes. Ventia’s scope of work will include the delivery of: •Network services, including mobile and wideband •National optic fibre and data and IP services •Maintenance and building…