India's Infosys to buy 75% stake in Telstra unit for $153 million
ReutersAug 13, 2025 2:26 PM
Aug 13 (Reuters) - Indian IT services company Infosys INFY.NS said on Wednesday that it would take a 75% stake in Versent Group, a wholly owned unit of Australia's Telstra Group TLS.AX, for A$233.3 million ($153 million).
Versent Group provides cloud services to Australian organisations in sectors such as finance, energy, utilities, government and education, Infosys said in a statement.
The deal, which Infosys says will boost its local presence, is expected to close by the second half of fiscal 2026, subject to approvals from Foreign Investment Review Board of Australia and Australian Competition and Consumer Commission.
U.S.-listed shares of Infosys rose after the news and were last up 1.6% at $16.33.
($1 = 1.5279 Australian dollars)
Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.
Related Articles
[Reuters Analysis] Powell's last Jackson Hole speech could pack a punch: McGeever
By Jamie McGeever ORLANDO, Florida, Aug 20 (Reuters) - Financial markets are taking in a collective breath ahead of Jerome Powell's eighth and final keynote Jackson Hole speech as Federal Reserve Chair. If the moves following his last seven are any guide, investors buckle up for a bumpy ride....Reuters
Wed, Aug 20
Powell's Jackson Hole Speech: For U.S. Stocks, Hawk or Dove Signal Could Be a Lose-Lose?
TradingKey - As U.S. inflation and labor market data show signs of rebalancing, Treasury traders and Wall Street banks have largely priced in a rate cut at the September FOMC meeting — the first of 2025. Yet both a more dovish-than-expected tone and a potential surprise hawkish signal from Fed ChairTradingKey
Mon, Aug 18
Eurozone Q2 GDP Commentary: Will the Euro's Upward Momentum Persist?
TradingKey - On 14 August 2025, Eurostat published Q2 GDP figures, revealing a drop in the Eurozone's quarter-on-quarter growth from 0.6% in the first quarter to 0.1%. Consequently, annual growth eased from 1.5% to 1.4%. The slowdown primarily stems from the diminishing boost from European...TradingKey
Mon, Aug 18
Ethereum Price Prediction: Will ETH Extend the Rally? What’s the Future Trend?
Ethereum's impressive 2025 rally has been largely fueled by inflows from spot ETFs and a surge in institutional holdings, signaling growing confidence in its role as a core asset in the crypto market. However, to officially confirm the start of a new bull cycle, ETH must break above the critical $4,TradingKey
Wed, Jul 23
Bitcoin Price Forecast: Trends and Investment Outlook from 2025 to 2030
From $0.01 in 2009 to $120,000+ in 2025, Bitcoin has evolved from obscurity to a globally recognized financial asset. While institutions and governments increasingly embrace it, investors must remain vigilant against volatility, security risks, and scams.TradingKey
Wed, Jul 16
