Does Telstra have foreign ownership restrictions?
Yes. The Telstra Corporation Act restricts foreign ownership.
That is, foreign persons collectively cannot control more that 35 per cent of the non-Commonwealth owned Telstra shares, and individual foreign persons cannot control more than 5 per cent of them.
Telstra will divest shares if an unacceptable foreign ownership situation arises. Telstra will also keep relevant stock exchanges advised of foreign ownership levels.
What are the current Telstra Foreign Ownership Regulations?
Details regarding Telstra Foreign Ownership Regulations can be found in the the current Foreign Ownership Regulations document.
What is Telstra's current level of foreign ownership?
The Telstra Corporation Act restricts foreign ownership in Telstra. It provides that foreign persons and their associates may not hold, in total, certain interests in us of more than 35 per cent of Telstra shares not held by the Commonwealth and individual foreign persons cannot hold certain interests in us of more than 5 per cent of Telstra shares not held by the Commonwealth.
Telstra estimates that as at 31 August 2020, the number of Telstra shares recorded as foreign on the Telstra register was 22.2 per cent of the total number of issued Telstra shares. For more detailed information on the restrictions on foreign ownership in Telstra Corporation Limited, please refer to our constitution and foreign ownership regulations which can be found in our Corporate Governance section.