Telstra 2014 Annual Report Download - page 170

NOTES TO THE
FINANCIAL STATEMENTS
(Continued)
Telstra Corporation Limited and controlled entities
168 Telstra Annual Report
(e) Controlled entities not individually audited by EY
These companies are not audited by EY, our Australian statutory
auditor.
(f) New incorporations and business combinations
On 22 August 2013, we acquired 100 per cent of NSC Group Pty Ltd
and its controlled entities. Refer to note 20 for further details.
On 2 September 2013, we acquired 100 per cent of DCA eHealth
Solutions Pty Ltd and its controlled entities. Refer to note 20 for
further details.
On 30 September 2013, we acquired 50 per cent of Fred IT Group
Pty Ltd and its controlled entities. Refer to note 20 for further
details.
On 9 October 2013, we incorporated Muru-D Pty Ltd.
On 18 October 2013, Autohome (Hong Kong) Limited acquired 100
per cent of Autohome Media Limited (formerly Prbrownies
Marketing Limited). During the year Autohome Media Limited
incorporated the following wholly owned subsidiaries:
• Autohome Shanghai Advertising Co. Ltd
• Beijing Autohome Software Co. Ltd
• Beijing Autohome Technologies Co. Ltd
• Beijing Autohome Advertising Co. Ltd
• Guangzhou Autohome Advertising Co. Ltd.
On 31 December 2013, we acquired 100 per cent of O2 Networks
Group. Refer to note 20 for further details.
On 11 March 2014, we incorporated Telstra Foundation
(Philippines) Inc.
On 18 June 2014, we incorporated Telstra Holdings Singapore Pte.
Ltd.
(g) Purchase of additional interest
On 10 December 2013, Telstra Octave Holdings Limited acquired
the remaining 33 per cent interest in Octave Investments Holdings
Limited in exchange for selling the net assets of the five variable
interest entities controlled by Sharp Point Group Limited. As a
result our shareholding in Octave Investments Holding Limited as
at 30 June 2014 is 100 per cent. Subsequent to this acquisition we
ceased operations of the Octave Group and the legal entities in the
Octave Group entered into voluntary liquidation (refer (b) above).
During the year we decreased our ownership of Autohome Inc.
from 66.0 per cent at 30 June 2013 to 63.2 per cent at 30 June
2014, via share buy-back, subsequent initial public offering and
employee share issues. None of these transactions resulted in a
change of control. Changes in valuation of non-controlling
interests resulting from these transactions are recorded in the
general reserve. Refer to note 20 for further details.
(h) Sales and disposals
On 28 February 2014, we divested 70 per cent of our directories
business via disposal of our 100 per cent shareholding in Sensis
Pty Ltd and its controlled entities (Sensis Group) and acquisition
of 30 per cent of Project Sunshine I Pty Ltd, the new holding
company of the Sensis Group. Refer to note 12 for further details
on the disposal. Our 30 per cent associate investment in Project
Sunshine I Pty Ltd is disclosed in note 26.
On 14 May 2014, we sold our entire 76.4 per cent shareholding in
CSL Limited and its controlled entities (CSL Group) for a total
expected cash consideration of $2,140 million subject to
completion audit. Refer to note 20 for further details.
(i) Limited by guarantee
We own 100 per cent of the equity of Telstra Foundation Ltd (TFL).
TFL is limited by guarantee (guaranteed to $100) with Telstra
Corporation Limited being the sole member. We did not contribute
any equity to TFL on incorporation. TFL is the trustee of the Telstra
Foundation Community Development Fund and manager of the
Telstra Kids Fund.
25. INVESTMENTS IN CONTROLLED ENTITIES (CONTINUED)