REG - Telstra Corp. Ld - Update on sale of Telstra shares in Autohome <Origin Href="QuoteRef">TLS.AX</Origin>

TelstraAnnouncement

25/05/2016 07:55

RNS Number : 2340Z
Telstra Corporation Ld
25 May 2016
25 May 2016
The Manager
RNS
Telstra Corporation Limited
Office of the Company Secretary
Level 41
242 Exhibition Street
MELBOURNE VIC 3000
AUSTRALIA
General Enquiries 61 8 8308 1721
Facsimile 61 3 9632 3215
Email:
companysecretary@team.telstra.com
ELECTRONIC LODGEMENT
Dear Sir or Madam
Update on sale of Telstra shares 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
Update on sale of Telstra shares in Autohome
25 May 2016 - On 15 April 2016, Telstra announced that it had entered into an agreement with Ping An Insurance Group for the sale of 47.7 per cent of total issued shares in Chinese online business Autohome for US$1.6 billion (A$2.1 billion). Telstra will retain a 6.5 per cent interest in Autohome after completion of the transaction.
A petition has been filed in the Cayman Island courts by certain minority shareholders of Autohome relating to the sale of Autohome shares by Telstra to Ping An. Telstra intends to contest the petition.
ENDS 
Media contact: Jon Court, +61 (0) 408423516
Email: media@team.telstra.com
www.telstra.com.au/abouttelstra/media-centre/
Investor contact: Peter Kopanidis, +61 (0) 412171673
Email:investor.relations@team.telstra.com
Ref number: 64/2016

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