Telstra to pay USD484 million for advertising group

8 Mar 2004

Australia’s incumbent fixed line telecoms operator Telstra is reported to be willing to pay AUD636 million (USD484 million) in cash for the Ozzie operations of Netherlands-based Trader Classified Media, Trading Post Group, to raise its presence in the country’s classified advertising market. The purchase of Trading Post is part of Telstra CEO Ziggy Switkowski’s plan to bolster growth amid increasing competition in its traditional core markets.