Stocks of the Hour: Telstra, Vulcan Energy & Oil Search

Company News

by Lauren Evans

Australia's largest mobile phone network Telstra (ASX:TLS) has confirmed it has been in discussions to buy Digicel Pacific, in partnership with the Australian government. If Telstra were to proceed with a transaction, it would be supported by government funding. There is no certainty that a transaction will proceed. Shares in Telstra Corporation (ASX:TLS) are trading 0.3 per cent lower at $3.76.

Vulcan Energy (ASX:VUL) has signed a binding lithium hydroxide offtake term sheet with LG Energy Solution (LGES) for its global Zero Carbon Lithium project. LG Energy is the largest producer of lithium-ion batteries for electric vehicles in the world. Shares in Vulcan Energy (ASX:VUL) are trading 0.5 per cent higher at $9.38.

Oil Search (ASX:OSH) has announced that its managing director, Dr Keiran Wulff, has resigned for health reasons. Dr Wulff had a long-term medical condition that has recently deteriorated. The board considered that Dr Wulff, in relation to his management style, had behaved in a manner inconsistent with the standards expected. Shares in Oil Search (ASX:OSH) are trading 4.7 per cent lower at $3.69.

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