Cimic (ASX:CIM) share price falls despite positive update

The Cimic Group Ltd (ASX: CIM) share price is down today, despite a positive announcement today that its subsidiary Ventia has won a Telstra contact. This most recent news comes hot on the heels of Ventia announcing a contract award with Anglo American, pre-market today.

At the time of writing, the Cimic share price is down 1.2% to $25.49.

A closer look at Cimic

The Cimic Group provides a range of services to the infrastructure, resources and property markets. These include construction, mining, mineral processing, engineering, concessions, and operation and maintenance services.

The company operates in more than 20 countries throughout Asia Pacific, the Middle East, North and South America, and Sub-Saharan Africa.

Telstra contract…