The World: Melbourne - Telstra ups China holdings with digital swoop

Telstra, Australia's largest telecommunications company, has acquired majority stakes in two Chinese online advertising specialists.

One is Norstar Media, which runs the automotive website Che168.com and the digital services site IT168.com, in which Telstra has taken a 55 per cent stake.

The other is AutohomePC Pop, which runs the auto website Autohome.com.cn and the digital services site PCPop.com.

The deals come two years after Telstra acquired 51 per cent of China's leading real estate site SouFun. Sol Trujillo, the Telstra chief executive, said: "Telstra now owns majority interests in three of the leading Chinese companies operating in three key online ad industry segments."