Australian incumbent Telstra is looking to expand its presence in the Chinese digital media space, Tarek Robbiati, MD of Telstra International, has told Dow Jones.
Telstra, which already owns automotive ad sites and mobile content group LMobile, will be…
Australian incumbent Telstra is looking to expand its presence in the Chinese digital media space, Tarek Robbiati, MD of Telstra International, has told Dow Jones.
Telstra, which already owns automotive ad sites and mobile content group LMobile, will be very selective since valuations are going up, but there remain some “niches and sub-sectors where we see value”, Robbiati said.
In 2009, former Telstra CEO Sol Trujillo said he wanted the company’s Chinese activities to generate A$1.3bn (US$1bn) by 2013.
According to Robbiati, the entire International division currently contributes some A$1.3bn, and it would be a challenge to hit the target – especially after having sold real estate website SouFun in 2010 for A$65m.
Also last year, Telstra wrote down the value of its investment in another Chinese business, mobile content group Octave, by A$65m.
