Future Fund pounces on Telstraâs towers in $2.8b deal
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A consortium spearheaded by Australiaâs Future Fund has agreed a deal to buy a stake in Telstraâs mobile telecommunications towers portfolio.
It is understood Future Fund and its co-investors will pay $2.8 billion to buy a 49 per cent stake in Telstraâs TowerCo, which was slated for divestment later this year.
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The deal pre-empts an auction, which was to be run by Macquarie Capital, and comes as Telstraâs arch rival Optus also seeks a buyer for a stake in its telecommunications towers.
Macquarie advised Telstra, Barrenjoey Capital advised Future Fund and its partners.