Australian telecom giant, Telstra, has expanded even further into the Chinese Internet market, securing a significant share in China’s rapidly growing, online advertising business. Sensis, Telstra’s own online advertising company, already runs SouFun, of which it acquired a 51% stake in 2006. SouFun currently ranks China’s number one real estate website. Now, with the addition of two more Chinese Internet companies to its portfolio, Telstra has secured its position as a leading player in the Chinese Internet industry.

On Friday, 27 June 2008, Telstra’s CEO, Sol Trujillo, announced that Telstra had acquired a 55% share of two leading Chinese internet-advertising businesses dealing with the fast-growing online auto and digital device advertising sectors. Telstra acquired the controlling stakes in the two businesses, Norstar Media and Autohome/PCPop, for an undisclosed amount. However, hinting that the price had been attractive, Sol Trujillo suggested that the price had been 50% lower than what Telstra had paid for SouFun. Online advertising revenues in the Chinese auto segment are predicted to almost triple by 2012, rising from US$230 million this year to more than US$690 million in 2012.