Telstra to Establish International Business as Separate Unit
21 Marzo 2021 - 3:58PM
Noticias Dow Jones
By Stuart Condie
SYDNEY--Telstra Corp. Ltd. plans to place its international
assets including sub-sea cables in a new subsidiary, forming a
fourth unit under its restructuring plan.
The Australian communications company on Monday said it would
seek shareholder approval in October to approve the restructure,
which Telstra previously said was in preparation for the eventual
privatization of the government-owned National Broadband Network
and to unlock value from Australia's largest mobile-tower
network.
Telstra said it planned to establish a new holding company and
transfer of assets into its services unit via schemes of
arrangement. Shareholders will own shares in the new holding
company on a like-for-like basis, it said.
The services unit will hold products and assets such as mobile
spectrum. There will also be an infrastructure unit for assets
including data centers and a mobile towers unit.
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
March 21, 2021 17:43 ET (21:43 GMT)
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