Author: estherlogue7617

Telstra announced it had completed the sale of a 49 per cent non-controlling stake in its towers business for $2.8 billion. Announced on 30 June 2021 with a consortium comprising the Future Fund, Commonwealth Superannuation Corporation and Sunsuper, and managed by Morrison & Co, the transaction valued Telstra InfraCo Towers at $5.9 billion, representing an FY21 pro forma EV to EBITDA after leasing multiple of 28x.  Telstra CEO Andrew Penn said realising more value from Telstra’s infrastructure assets was one of the fundamental pillars of Telstra’s T22 strategy, and this transaction was another marker of progress against that strategy. “This ... Read more