Telstra to Delay Broadband Cash Return Until at Least 2014
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Telstra Corp. will hold off on returning extra cash to shareholders until at least 2014 as it starts receiving A$11 billion ($11.4 billion) from the state-owned company building Australia’s broadband network.
The nation’s largest phone company will refrain from immediately giving back as much as A$3 billion in excess cash to keep its options open, Chief Executive Officer David Thodey told a meeting of investors in Sydney today.