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Telstra open to selling assets to nat'l broadband network: CFO

SYDNEY, Oct 28, 2009 (Asia In Focus via COMTEX) --

Company: Telstra Corp. Ltd. (TLSYY)

TELSTRA CORPORATION LTD (ASX:TLS) says it is open to selling assets to the Australian government's national broadband network but it needs a guarantee on returns. Chief financial officer John Stanhope told an institutional investor briefing that Telstra could sell fixed-line assets to the NBN Company, but shareholders would want a guarantee of a return on such a transaction.

* "Our shareholders would rightly not be happy if we vended some assets for equity where there is doubt on the value of that equity or where there is any doubts of any returns on that equity," he said.

* "But we would consider vending assets for an appropriate consideration of cash that's fair value, or even equity if there is some form of guarantee on return."

Copyright (C) 2009 Asia in Focus. All rights reserved

News Provided by COMTEX

Company: Telstra Corp. Ltd. (TLSYY)


Related terms: bandwidth, equity, government

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