Future Fund, Commonwealth Superannuation and Sunsuper to acquire a 49% stake in Telstra InfraCo Towers for $2.8bn.

Future Fund, a sovereign wealth fund, Commonwealth Superannuation, a provider of superannuation services, and Sunsuper, a fund, agreed to acquire a 49% stake in Telstra InfraCo Towers, an operator of 5k mobile towers, for $2.8bn. “Telstra’s objective in seeking a strategic partner has been to maximise overall value for our shareholders, maintain control of the assets and agree terms that secure Telstra’s mobile network leadership and competitive differentiation into the future. I am pleased that we have been able to achieve that ahead of schedule through this transaction announced today," Andrew Penn, Telstra CEO.