Telco giant Telstra (ASX:TLS)
is planning the most comprehensive restructuring program since the company’s privatisation in 1997.
Should the proposal receive the go-ahead from shareholders, Telstra (ASX:TLS)
will be divided into InfraCo Fixed, InfraCo Towers, ServeCo and Telstra International — separate entities under the umbrella of a new holding firm. The process will be carried out by way of schemes of arrangement. Telstra Chief Executive Andy Penn has identified the move as a means to “maximise flexibility and value realisation of assets”. With two separate InfraCo entities, Telstra (ASX:TLS)
will attain a flexible position to purchase the NBN and receive lucrative offers for its infrastructure assets. The matter will be voted on by shareholders in October.
Shares in Telstra (ASX:TLS)
are trading 0.78 per cent higher at $3.23