Via the AFR:
Telstra will split out its infrastructure assets into a new wholly-owned business for the potential to demerge the new division or bring in strategic investors.
The plan is one aspect of a range of sweeping changes, labelled Telstra2022, which chief executive Andy Penn will present later on Wednesday, including the sale of $2 billion of assets, revealed by the Financial Review on Wednesday morning, 8000 job cuts – including one in four middle management roles, a $1 billion increase to its cost-cutting target – taking it to $2.5 billion annual savings, and an overhaul of its product offerings.
Just report’n.
