Australian shares dropped in morning trading on Monday, with the S&P/ASX 200 index slipped 0.1% at 4,579.10. Loss for telecoms and healthcare companies weighed down the index, with CSL Limited(ASX:CSL)which declined 1.4% and Telstra Corporation Limited(ASX:TLS)which slipped 0.5%.
On the positive side, Fairfax Media Limited(ASX:FXJ) gained 3.3% following the media conglomerate publicized that it would sell the rest of its New Zealand internet classifieds unit Trade Me for 616 million Australian dollars ($649.7 million).
The shares are being traded at a price of A$3.05 a share. The sale is completely underwritten by UBS New Zealand Limited. After completion of the sale, Fairfax will no longer own any shares in Trade Me. [article_detail_ad_1]
Chief Executive and Managing Director Greg Hywoodcommented that Trade Me has been a good business for Fairfax and they have learned a great deal more regarding the successful operation of digital businesses over the years since they purchased Trade Me for NZ$750 million in 2006.
CSL Limited (ASX:CSL) recently publicized that its plasma product operations in Australia will take on the name of its international plasma business, CSL Behring, and that the firm’s vaccine, pharmaceutical and diagnostics business will operate under the recently selected name of bioCSL.
The fresh business names ascend from a restructuring of CSL Biotherapies which was declared with CSL’s complete year results in August 2012. The fresh operating arrangements will be effective from 1 January 2013.
Telstra Corporation Limited (ASX:TLS) has been caught short with its advertising of a helpline for fixing connection faults afterupkeeps to the fire-damaged Warrnamboollocal exchange.
Its promotion, comprising an advertisement in Saturday’s The Standard, advised people to contact the call center on 1800 171 355.
Yet, anyone ringing that number during the weekend would have revealed it operates just Monday to Friday 8am to 8pm.
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