Telstra stops $4.4 billion fundraising plan after state partner’s vetoStaff Writer | August 30, 2017
Telstra dropped a plan to raise as much as A$5.5 billion ($4.4 billion) through an income securitization deal after a government-backed business partner rejected the move, sending its shares tumbling.
Communications National Broadband Network
But on Wednesday Telstra said in a statement it was scrapping the plan as the government network refused consent.
“Without that, we can’t proceed,” Telstra spokesman Jon Court told Reuters, adding though, that it will continue to receive the income from the state network. ■