Telstra set on Asia: Thodey

Telco’s boss outlines need to change its approach to business.

Telstra Corporation (TLS) boss David Thodey has outlined grand plans for the telco as it looks to gain an increasing slice of its revenue from offshore, according to The Australian.

Speaking in San Francisco, Mr Thodey said he had designs to turn the Australian market leader into “a true pan-Asian business”, while new technology trends, such as cloud computing, required a shift in the company’s approach.

“We need to change, by 2020 the make-up of our business will probably be (in technology) just about 100% different from where we are today," he said, according to The Australian.

Mr Thodey hinted, in comments on the sideline of the event, that the recent cash injection from the sales of directories business Sensis and Hong Kong mobiles business CSL could be used for acquisitions in Asia, though the company “won’t rush anything”.