Marbridge Daily

<- May 10, 2010 ->

Telstra Invests USD 100 Mln in Lmobile

ChinaByte, 5/10/10

Xu Maodong, CEO of Chinese mobile advertising service provider Lmobile, recently told Chinese media that Australian telecom operator Telstra has not fully acquired Lmobile and the founding members will continue to lead the company. Xu did reveal, however, that Telstra has invested over USD 100 mln in Lmobile.

Editor's Note: For more background on this topic, please see "Rumor: Telstra to Acquire Lmobile for USD 200 Mln" MD 3/29/10 issue. A Telstra spokesman previously explained that the acquisition of Lmobile was made through an investment in its parent company, Dotad Media Holdings, on February 23, 2010.

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