Business
Telstra (ASX:TLS) share price and others caught in Greensill insolvency
The Telstra Corporation Ltd (ASX: TLS) share price, along with numerous other Australian companies, will be watched with a close eye at the moment. This comes as the Greensill Capital collapse ripples through to its clients.
What is Greensill Capital and what happened?
Founded in 2011 and headquartered in London with offices globally, Greensill Capital is the supply-chain financing brainchild of Lex Greensill. The firm tweaked an old concept called ‘factoring’. This is where a supplier fast tracks its receivable payments through a financier. The financier later recovers the payment from the larger corporation.
The tweak to the…
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