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Telstra profit hits $2b, shelves option for infrastructure sale

Source: afr.com afr.com
News Snapshot:

The company sold a 49 per cent stake in Amplitel to a Future Fund-led consortium of superannuation investors for $2.8 billion in June last year, and analysts have been forecasting that InfraCo Fixed would be the next asset on the block. Group underlying earnings before interest taxation depreciation and amortisation rose 9.6 per cent to $8 billion, boosted by the company’s acquisition of Papua New Guinea-headquartered telecommunications provider Digicel Pacific in July on behalf of the federal government. The Commonwealth funded most of the $US1.6 billion ($2.4 billion) deal fearing it may be picked up by a Chinese state-owned entity…

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