Shares in JB Hi-Fi and Telstra store operator Vita Group came under pressure on Thursday after Telstra said it would take full control of its retail store network as part of a strategy to become a “world-class” consumer electronics retailer.

Vita Group is Telstra’s single largest licensee, after inking a 26-year master licence agreement in 2009, and operates 104 of Telstra’s 337 branded stores. Telstra owns and operates 67 stores and individual licensees operate another 166.