Deals
Telstra Sells Sensis Stake for $408 Million as Earnings Drop
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Telstra Corp., Australia’s largest phone company, will sell a majority stake in its Sensis directories and business listings division to Platinum Equity LLC for A$454 million ($408 million).
The Melbourne-based company will retain a 30 percent share of the unit, valuing it at A$649 million, according to a filing today. That compares with the A$15 billion that former Sensis Chief Executive Officer Bruce Akhurst said it could be worth in