Telstra sells phone towers

 

Australian telecommunications giant plans to sell portion of its mobile phone tower business.

On 30 June, Andy Penn, CEO of Telstra, announced plans to sell 49 percent of Telstra’s mobile phone base station business to a consortium of superannuation funds. The three superannuation funds—Future Fund, Commonwealth Superannuation Corporation and Sunsuper—will spend $2.8 billion to acquire their share of the asset.

Under the agreement, Telstra will retain the majority ownership in InfraCo Towers and continue to own its radio access equipment and spectrum. It will also have access to existing and new infrastructure for fifteen years, with an option to extend.

Telstra InfraCo was established in 2018 as a specialist infrastructure business. It is the largest mobile tower infrastructure provider in Australia, with approximately 8,200 towers.

As well as mobile phone towers and poles, it also owns fibre optic cables, ducts, data centres, exchanges and subsea cables.

Dr Raphael Arndt, CEO of the Future Fund, said, ‘We are pleased to partner with Telstra to play an important role in strengthening Australia’s 5G infrastructure.’

The deal will close in September.

This may not be a lucrative financial deal for superannuation companies or their investors long-term. As scientific evidence about the health effects caused by wireless radiation accumulates, there could be legal action against companies responsible for emitting it. It is also possible that the InfraCo super funds will see investors who are opposed to mobile phone infrastructure near their homes transfer to other super funds.
Telstra media release, 30 June 2010 

Telstra Infraco Project 

What you can do

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