Telstra goes on the M&A hunt

It's been barely a week since Telstra (ASX: TLS.AX) agreed to sell its wireline network facilities to the Australian government for its National Broadband Network (NBN) initiative, but the service provider is already plotting its own acquisition plan.

Although he did specify any areas of particular interest, Telstra's CEO David Thodey said that it will use some of the proceeds of its $9.6 billion network sale to craft possible deals that will expand its product and service capabilities.

"We'll keep expanding our product portfolio out but there are new opportunities coming along that may provide opportunities for us to do acquisitions," Thodey said in an interview with ABC.

For more:
- Reuters has this article

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