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Telstra backs e-commerce firms in Indonesia, Philippines

Australian telco Telstra Corp. Ltd.'s venture capital arm is investing ine-commerce companies in Indonesia andthe Philippines, ZDNet reported Sept. 30.

The investment was done through a Series B funding round byfintech firm Compare88, which owns and runs e-commerce sites in Indonesiaand in the Philippines. Financial details were notdisclosed.

According to the report, the investment will also createbusiness collaboration opportunities for enterprise services with Telstra'sIndonesian joint venture, Telkomtelstra.