Telstra to sell 76.4% stake in CSL for A$2b
Sale to HKT gives Telstra A$600m profit on CSL's book value
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AUSTRALIA's Telstra is selling its stake in Hong Kong mobile operator CSL in a deal that will bring in proceeds of about A$2 billion (S$2.26 billion), it said yesterday.
Telstra will sell its 76.4 per stake in CSL to HKT Ltd, netting itself a profit of about A$600 million on CSL's book value. Even so, this gain comes after previous writedowns on the asset's book value as CSL battled a brutal and competitive market over the last decade.
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