By Stuart Condie
SYDNEY--Telstra Corp. will restructure into three business units in a move its Chief Executive said will allow the company to unlock value from Australia's largest mobile-tower network.
The ASX-listed communications company on Thursday said it would create an infrastructure unit holding assets including data centers and sub-sea cables, a mobile towers infrastructure unit, and a services unit to hold products and assets such as mobile spectrum.
Telstra said it will look to monetize the tower assets over time, citing strong demand and compelling valuations.
Chief Executive Andy Penn said the proposed restructure might generate additional shareholder value.
"It will unlock value in the company, improve the returns from the company's assets and create further optionality for the future," Mr. Penn said in a statement.
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(END) Dow Jones Newswires