Telstra Corporation Ltd
(ASX:TLS) says that it has completed the sale of its 47.4% stake in Chinese online business, Autohome.
Telstra’s stake was worth $2.1 billion, and was purchased by the Ping An Insurance Group.
The Australian telecommunications company says that it expects an accounting gain of $1.8 billion for this sale, but this is subject to foreign exchange rates.
Telstra will maintain a 6.5 % stake in Autohome after this transaction.
Telstra reported a net profit of $2.14 billion at 31 December 2015.
