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 - Nominations close October 27!: Nominations have opened for WIICTA 2014 and will stay open until October 27. 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

 
Computerworld
CIO
Techworld
CMO

Latest News

02:05PM
20th Century Fox deploys HP Moonshot servers
01:27PM
Adobe begins encrypting user data collected from Digital Editions app
12:17PM
St George turns on fingerprint login for Apple iOS Internet banking
12:01PM
DDoS attacks skyrocket: Akamai State of Internet Report
More News
29 Oct
NewLease & Microsoft Technical Sessions
30 Oct
Ovum 2020 Telecoms Summit
30 Oct
NewLease & Microsoft Technical Sessions
05 Nov
vForum 2014
View all events