Telstra in Talks With San Miguel for Philippines Mobile Venture

Telstra Corp., Australia’s biggest phone company, is in talks with the Philippines’ San Miguel Corp. about investing in a wireless joint venture in the Southeast Asian country.

“No agreements have been reached in relation to these matters and there is no certainty” that a deal will occur, Telstra said in a regulatory statement Friday. The Melbourne-based company was selecting banks for expansion in the Philippines, according to a headline on subscriber-only website TMT Finance.