Telstra Corporation Limited
(ASX:TLS) says it has been unable to reach an agreement with San Miguel Corporation over a wireless joint venture in the Philippines.
CEO Andrew Penn says despite the best efforts of both parties the two companies just could not come to terms on commercial arrangements for the deal.
Telstra says it will continue to offer technical network design and construction consultancy support to San Miguel and that it will continue to pursue growth strategies in Asia.
Telstra reported a net profit of $2.135 billion for the six months to the end of December 2015.
