Rumor: Telstra to Spin Off Autohome, Lmobile
Tencent Tech, 9/19/10
Australian telecom operator Telstra plans to spin off automobile website Autohome and Chinese wireless value-added service provider LMobile following the successful listing of Chinese real estate search engine Soufun (NYSE: SFUN), in which Telstra holds a controlling interest. According to an industry source, Autohome will list before the end of the year, and LMobile will list overseas in 2011 or 2012.
Editor's Note: For more background on this topic, please see "Telstra Purchases Stake in Auto and IT Websites" MD 6/27/08 issue, and "Telstra Invests USD 100 Mln in Lmobile", MD 5/10/10 issue.
Keywords: SFUN IPO Internet automobile overseas wireless SouFun Autohome Telstra LMobile online real estate foreign operator SP vertical portal mobile advertising