Telstra Gets Au 2 8B For 49 Stake In Tower Biz From Future Fund And Super Funds
For AU$2.8 billion, the consortium has picked up a 49% stake in the business that owns around 8,200 towers across Australia. The structure of InfraCo Towers will shift to being chaired by overall InfraCo CEO Brendon Riley, with the board to be made up of Telstra and consortium representatives. The Towers CEO will be Jon Lipton, who heads up Telstra’s tower business. Once the deal is closed in the first quarter of fiscal year 2022, InfraCo Towers will have no debt, and a 15-year deal with extension options for Telstra to use its infrastructure....