Telstra Corp, the largest telecommunications operator in Australia, has acquired two internet companies, increasing its footprint on the mainland.
Telstra bought 55 per cent of Norstar Media and Autohome/PCPop, which own car websites che168.com and autohome.com.cn, respectively, and digital-device sites it168.com and pcpop.com.
'All of them are leading players in their particular sectors,' said Jacky Huang, senior analyst of digital marketplace research at IDC China.
This is not the first move by Telstra into the mainland internet market; it acquired a 51 per cent stake in SouFun, the country's top property site for US$254 million in 2006.
The cost of the new acquisitions was not disclosed, but the total was less than half that paid for SouFun, said Telstra chief executive Sol Trujillo.
Both companies are 'cash-flow positive'.
Mr Trujillo said the acquisitions were consistent with Telstra's strategy of creating a media-communications footprint in Australia and internationally.