Telstra Corporation Limited’s (ASX:TLS) war chest is growing after scoring regulatory approval in Hong Kong for its $US2.4 billion sale of its mobiles business CSL.
Australia’s largest telco expects to tie up the divestment by this month after first flagging the deal at the end of last year.
The sale has fuelled speculation over where the company will deploy the funds from the latest in a string of divestments.
Earlier this year Telstra sold a 70 per cent stake in its directories business Sensis to Platinum Equity for $454 million.
CEO David Thodey has described both divestments as opportunities to maximise value for Telstra shareholders.
Telstra Corporation reported a net profit of $1.7 billion in the first half of its 2014 financial year.
