Telstra shares have pushed to 13-year highs as the incumbent telecommunications provider continues to sign new deals that are all anticipated to add to its earnings.

The latest deal was the $US697 million ($857 million) acquisition of Pacnet, which includes data centres and networks throughout Asia as well as 46,000 kilometres of underseas cable, adding to its already strong cable assets in the area.

Telstra shares hit a 14-year high on Thursday. Credit:Louie Douvis

Telstra shares hit a high of $6 this week before closing on December 24 at $5.91.

Pacnet's joint venture in China, PBS, provides a particularly unique opportunity. Pacnet is the first and only foreign company licensed to provide IPVPN (internet protocol virtual private network) services and data centre network services in China.