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Telstra Buys Stake in Chinese Real Estate Web Site
1points
Telstra Corp., Australia's biggest telephone company, bought a controlling stake in a Chinese Internet business as it seeks growth ahead of an A$8 billion ($6.1 billion) share sale this year. Telstra will pay $254 million for 51 percent of SouFun Holdings Ltd., which operates a real estate and home furnishing Web site, the Melbourne-based company said in a statement today.
Source: http://www.bloomberg.com/apps/news?pid=20601081&sid=arnK…
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Well they have to make their money somewhere!
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