I think market is digesting spectrum purchase at 1.3 billion.
For that reason alone i probably agree with autohome ipo to help reduce debt required to purchase spectrum. tls's share being 500m less any chinese tax.
ps well done sol, purchased soufun and autohome for 360m telstra's market cap share today would have been 1.8 billion going by telstra's 1 b valuation on autohome and nasdaq soufun market cap of 2b plus.
Total market cap for both websites is 3b plus,and that is valuing autohome at 1b when carsales is 2.2b.
ps as spectrum auction is out of the way,coalition policy announced i hope telstra feels they can give a 2014 guidance.
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