Telstra agrees to sell 70% stake in Sensis

13 Jan 2014

Australian fixed line incumbent Telstra has announced that it has entered into an agreement to sell a 70% stake in Sensis, its directories business, to US based private equity firm Platinum Equity for AUD454million (USD408 million).Under the terms of the sale, which excludes the voice services business, Telstra will retain a 30% shareholding in Sensis; former’s CEO David Thodey said he believed the agreement was the right strategic fit for the parties involved and claimed the new partnership would ‘maximise the value of the Sensis asset for Telstra shareholders’. With Platinum Equity to operate Sensis as a separate entity, the latter will continue to produce and distribute the White Pages Directory as required under conditions of Telstra’s Carrier Licence, while Telstra will also continue to provide directory assistance (1223) services as required under conditions of its concession; voice services including the 1234 and 12456 services are a part of Telstra’s core telecom offering and will continue to be operated by Telstra as an ongoing supplier to Sensis.

Australia, Sensis, Telstra (incl. Belong)