August 15, 2019 / 11:38 PM / 6 days ago

Australia's Telstra to sell minority stake in new unlisted trust for $474 mln

Aug 16 (Reuters) - Australian telco Telstra Corp said on Friday it would sell a 49% stake in a newly established property trust to a consortium led by Charter Hall Long Wale REIT for A$700 million ($474 million).

Telstra said the unlisted trust would own 37 of Telstra’s existing exchange properties.

$1 = 1.4769 Australian dollars Reporting by Rushil Dutta in Bengaluru; Editing by Stephen Coates

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