Telstra Corporation Limited (ASX:TLS) announced that it expects to make a non-cash impairment & write down of the carrying value of its 35% stake in Foxtel after the write down in value of Foxtel by News Corp.
TLS expects an impairment charge of ~ $300 million against its this investment in its FY2020 results. It would write down the value of TLS’s share in Foxtel from $750 million to ~ $450 million.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.
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