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.

2015 ARN ICT Industry Awards: NOMINATE NOW!!!: Nominations for the 2015 ARN ICT Industry Awards are now open. Once again, it is time to NOMINATE NOW!!!

Join the ARN newsletter!

Error: Please check your email address.

Tags Platinum EquityForeign Investment Review BoardTelstra

More about Foreign Investment Review BoardPlatinum EquityTelstra Corporation

ARN Directory | Distributors relevant to this article

Show Comments
 

Latest News

02:36PM
Dicker Data just misses breaking $1 billion mark in revenue for FY2014
12:23PM
Wi-Fi access point scans can betray a person's location
12:17PM
Liquid business environments are essential for company growth: VMware
11:45AM
CIOs still fear the Cloud: Red Hat
More News
28 May
D-LINK TECHNOLOGY SEMINAR (Far North QLD)
28 May
SplunkLive! Canberra
28 May
2015 Innotribe Startup Challenge
04 Jun
IM Experience, Sydney
View all events