Former prime minister Paul Keating is in line for a payday of at least $40 million after the prepaid mobile phone business he co-founded with entrepreneur Peter Adderton was sold to sector giant Telstra.
The telecommunications giant will acquire Boost Mobile for just under $140 million in cash, and hopes to use the high-profile brand to sell to customers looking for a cheaper deal and for pre-paid phone plans.
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Jenny Wiggins writes on business, specialising in infrastructure, telecommunications and transport. Connect with Jenny on Twitter. Email Jenny at jwiggins@afr.com
