Telstra's Sausage Stake Grows
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Earlier this year, Telstra purchased a 10 per cent stake in the software developer. The telco will initially convert 14.9 million options, or 10 per cent of Sausage, into shares, which will give the company AUS$18.9 million (US$12.5 million) in capital.
Telstra will be able to invest another AUS$54 million (US$36 million) to increase its holding to 40 per cent.
Sausage intends to use this capital to fund continued expansion of its business.