21 Sep 2010
Apax Partners and General Atlantic formally agreed to acquire at least most of Telstra's stake in SouFun, China's largest real estate portal, which debuted on the New York Stock Exchange late last week (NYSE: SFUN).
Telstra is Australia's national telecommunications giant. In August, it made known its intention to sell to Apax and GA upon SouFun's initial public offering. Telstra bought 50.5 per