Telstra abandons Philippines mobile expansion

Monday, 14 Mar 2016 05:48:26 | Rebecca Hyam

Telstra had planned to invest up to $US1 billion in the proposed joint venture with San Miguel. (Greg Wood: AFP)

Negotiations between Telstra and San Miguel Corporation to build a new mobile network in The Philippines have broken down.

In a statement issued to the ASX, Telstra said the two firms had been unable to reach agreement on the commercial arrangements for a joint venture.

Telstra said it will continue to pursue growth opportunities in Asia.

Last year, Telstra said it had envisaged investing up to $US1 billion in the joint venture with San Miguel Corporation.

More to come.

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