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Telstra sells 70% stake in Sensis
2014-01-13 00:30:00| Telecompaper Headlines
(Telecompaper) Australia's Telstra has entered into an agreement to sell a 70 percent stake in its directories business, Sensis. Telstra will sell the stake to US based private equity firm, Platinum Equity for AUD 454 million. The sale excludes the voice services business and includes economic benefits to Telstra from services it will continue to provide to Sensis. Telstra will retain a 30 percent shareholding. The sale proceeds are incremental to Telstra's FY14 free cashflow guidance of AUD 4.6 to 5.1 billion. Telstra expects to book an accounting loss on Sensis of approximately AUD 150 million subject to completion timing and adjustments.
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Category:Telecommunications