REG - Telstra Corp. Ld - Telstra sells remaining stake in Autohome <Origin Href="QuoteRef">TLS.AX</Origin>

TelstraAnnouncement

23/02/2017 07:00

RNS Number : 6114X
Telstra Corporation Ld
22 February 2017
22 February 2017
The Manager
RNS
Office of the Company Secretary
Level 41
242 Exhibition Street
MELBOURNE VIC 3000
AUSTRALIA
General Enquiries 08 8308 1721
Facsimile 03 9632 3215


ELECTRONIC LODGEMENT
Dear Sir or Madam
Telstra sells remaining stake in Autohome
In accordance with the Listing Rules, I attach a market release, for release to the market.
Yours faithfully
Damien Coleman
Company Secretary


MARKET RELEASE
Telstra sells remaining stake in Autohome
22February 2017: Telstra has sold its remaining 6.5 per cent interest in Chinese online business Autohome to Ping An Insurance Group for US$217 million (A$282 million based on current exchange rates). 
The divestment reflects Ping An is now well established as a strategic partner for Autohome. The sale price of US$29.30 per share is in line with Autohome's volume weighted average price over the past 60 days, with Autohome recently trading at its highest levels in the past 12 months. 
As a result of the sale, Telstra's nominee director to the Autohome Board has resigned.
Media contact: Jon Court, +61 (0) 408 423 516
Email:media@team.telstra.com
Investor contact: Peter Kopanidis, +61 (0) 412 171 673
Email:investor.relations@team.telstra.com
Ref number: 017/2017
Disclaimer:
This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. Additionally, any securities mentioned herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or the law of any state of the United States, and may not be offered, sold or resold, directly or indirectly, in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.
This announcement contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates" and similar statements. Statements that are not historical facts, including statements about Telstra's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Such forward-looking statements are based on numerous assumptions regarding the present and future business strategies of Telstra. All information provided in this announcement is as of the date of this announcement, and Telstra does not undertake any obligation to update any forward-looking statement, except as required under applicable law."

This information is provided by RNS
The company news service from the London Stock Exchange
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