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Provider: Thomson Reuters Stock Report
Provider: Reuters Investment Profile
Provider: Reuters Investment Profile
Provider: Ford Investor Services, Inc.

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Telstra Corporation Ltd completes sale of CSL

Tuesday, 13 May 2014 10:17pm EDT 

Telstra Corporation Ltd:Completes the sale of its Hong Kong based mobiles business CSL to HKT Limited.Sale proceeds equate to $1.99 bln for Telstra’s 76.4 pct interest in CSL after preliminary completion adjustments.As part of the sale HKT also acquired the remaining 23.6 pct shareholding held by new world development.Net proceeds are incremental to Telstra’s free cashflow guidance of A$4.6bln to A$5.1bln in FY 14 which excludes any proceeds on the sale of businesses.Telstra will now consider the net proceeds from this transaction, consistent with its capital management framework and will provide a further update to the market when it announces its full year results in Aug.