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Telstra Buys Stake in Chinese Real Estate Web Site (Update2)
By Fergus Maguire
Aug. 31 (Bloomberg)) -- Telstra Corp., Australia's biggest telephone company, said it bought a 51 percent stake in SouFun Holdings Ltd., which operates a Chinese real estate Web site, for $254 million.
Chief Executive Officer Sol Trujillo, who has visited China at least twice this year, is seeking growth opportunities to offset declining sales in his main fixed-line telephone business in Australia.
``SouFun provides an attractive entry point into China, one of the world's fastest growing economies,'' Trujillo said in a statement to the Australian Stock Exchange today.
The purchase comes as the Australian government prepares to sell an A$8 billion ($6.1 billion) stake in Telstra in October and November.
Trujillo's predecessor, Ziggy Switkowski, lost more than A$3 billion in a failed Asian expansion during his six-year tenure.
In December, Telstra agreed to merge its Hong Kong wireless unit CSL with New World PCS Ltd. to create the territory's biggest mobile phone company. Telstra also jointly owns Hong Kong's undersea cable operator Reach Ltd. with PCCW Ltd.
Telstra, which earns more than 90 percent of its revenue in Australia, is losing market share to rivals including Singapore Telecommunications Ltd. and Vodafone Group Plc.
Separately, the Melbourne-based company sold its pension services unit Australian Administration Services for A$215 million ($163 million) to Sydney-based investment company Pacific Equity Partners, recognizing a profit of A$56 million.
Telstra shares were unchanged at A$3.59 at 3:53 p.m. in Sydney. The stock has fallen 24 percent the past year.
To contact the reporter on this story: Fergus Maguire in Canberra, Australia at fmaguire@bloomberg.net

背景介绍：
澳大利亚电信（TELSTRA）是澳大利亚最大的通信和信息服务公司，是澳大利亚最大的移动通信运营商和Ｉｎｔｅｒｎｅｔ业务提供者。它除能为全澳洲提供种类繁多的电信业务外，还拥有全国范围内最大的电话网。它的ＧＳＭ网覆盖了全国９４％的区域和人口，可与６５个国家进行漫游，基于ＣＤＭＡ技术的第二数据网业务也已经开通。目前，澳大利亚电信的Ｉｎｔｅｒｎｅｔ用户已超过４０万。