Telstra sells remaining stake in Computershare

Telstra has made a $61 million profit out of the sale of its remaining 26.63 million shares in Computershare.

David Moffatt, Telstra's chief financial officer, said the initial business reasons for investing in Computershare had "evolved", and while the company was considered a good financial investment, it was no longer part of the strategic direction of Telstra.

"The sale allows Computershare to focus on the future and to continue to grow in the markets it is targeting. It also frees up capital for Telstra's growth."

Telstra initially invested in Computershare in June 1999.

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