Telstra completes $454 million sale of Sensis

Telstra sold a 70 per cent stake in Sensis to Platinum Equity

Telstra has completed the $454 million sale of a 70 per cent stake in Sensis to Platinum Equity.

This followed the recent confirmation by the Foreign Investment Review Board that it had no objections to the sale.

Telstra first announced the deal on January 13.

The sale excludes the voice services business, which is retained by Telstra.

In addition there are economic benefits to Telstra from the services it will continue to provide to Sensis.

Telstra expects to book an accounting loss on Sensis of approximately $150 million, of which $100 million was booked in the December 2013 half year results.

The balance of the loss which remains subject to completion adjustments will be accounted for in the second half of FY14.

2014 ARN Women in ICT Awards - Nominate Now!: Nominations have opened for WIICTA 2014 and will stay open until October 22. But don't be late, be among the first in and NOMINATE NOW!!!

Tags Platinum EquityForeign Investment Review BoardTelstra

More about Foreign Investment Review BoardPlatinum EquityTelstra Corporation

ARN Directory | Distributors relevant to this article

Comments

Comments are now closed

 

Latest News

02:07PM
Avnet clinches Lenovo global distribution deal
01:46PM
Steve Wozniak to teach at UTS
11:19AM
Apple's Yosemite OS shares Spotlight search terms by default
11:01AM
NewLease's emerging markets expansion to be led by former Microsoft executive
More News
21 Oct
NewLease & Red Hat Breakfast Briefing (Melbourne)
21 Oct
DCIM Solutions Architect
22 Oct
NewLease & Microsoft Technical Sessions
23 Oct
NewLease & Red Hat Breakfast Briefing (Sydney)
View all events