Telas Markets, the Telstra-owned telecommunications operator that has been trying to grow its business by launching new services, is getting a $5 billion financing boost.
The investment comes after Telstra sold its telesales arm to SoftBank, which had hoped to bring the business back to profitability.
Telstra has been looking to grow the business for several years, having been forced to sell the telesale arm due to poor profit growth and slow growth in the telcos business.
Telas markets has also been struggling with rising costs in recent years.
The telesase business was once Telstra’s fastest growing business.