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Wireless

Telstra completes sale of CSL to HKT

Wednesday 14 May 2014 | 10:40 CET | News
Australian carrier Telstra said it has completed the sale of its Hong Kong mobile business CSL to HKT. Telstra said proceeds will amount to USD 1.99 billion for its 76.4 percent stake in CSL after preliminary completion adjustments. HKT acquired the remaining 23.6 percent stake in the business from New World Development. Profit on the sale for Telstra is expected to reached AUD 561 million, subject to completion accounts and audit. CSL reported a profit of AUD 105 billion and EBITDA of AUD 261 million for its year to end April.

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Categories: Mobile & Wireless
Companies: CSL / Telstra
Countries: Australia / Hong Kong
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