Sources close to the telco said Boost Mobile’s acquisition price was around $140 million, which did not include a meaningful deferred payment.

This Black Friday sales season, Boost Mobile offers massive savings on prepaid SIMs, refurbished devices, and accessories to new customers. From November 19 to December 2, Australians can take advantage of discounts of up to 65% on selected Boost prepaid SIMs,

Paul Keating is set to reap a payday of at least $30m after Telstra agreed to buy Boost Mobile to sell more budget prepaid plans amid a cost of living crunch.

The telecommunications giant has acquired the specialist pre-paid mobile phone business for $140 million. The former prime minister owns 29 per cent.

Telstra has paid $140 million to buy out Boost Mobile on Monday. Boost started almost 25 years ago and is one of the only resellers of Telstra's entire capital city and regional network. Boost was bought out by US mobile company Nextel,