Australia's Future Fund leads consortium to acquire Telstra towers for $2.2b

Photo: Reuters

Future Fund, Australia’s sovereign wealth fund, is leading a consortium that will acquire a 49% stake in Telstra’s mobile tower infrastructure subsidiary for A$2.8 billion ($2.2 billion), according to an announcement.

The consortium, which also includes Australian pension fund Sunsuper and the Commonwealth Superannuation Corporation, is acquiring nearly half of Telstra’s InfraCo Towers, which represents the latest network of mobile tower sites in Australia.

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