(TLS +1.25%): More detail out today around the TLS restructure that in MM’s view will unlock value. The telco said that it will separate subsidiaries InfraCo Fixed, InfraCo Towers & ServeCo, which will own Telstra’s physical infrastructure, mobile tower assets and building products and services, respectively. The new subsidiaries will be under the new holding company called Telstra Group. Telstra will also establish an international business under a separate subsidiary called Telstra International, which would include its subsea cables.
After the restructure, shareholders will own shares in the new holding company on a like-for-like basis. That will then set the scene for 1. The market to better understand the value in each area & 2. Telstra to extract that imbedded value. We own in the MM Income Portfolio.
MM remains bullish TLS
Add To Hit List
