Australia’s Telstra may sell Sensis for $2.7 billion: report

A man walks past a Telstra public phone in Sydney(Reuters) – – Australia's biggest phone company Telstra Corp. is in advanced talks with a U.S. private equity firm over the sale of its Sensis directories business for as much as A$ 3 billion ($ 2.7 bln), local media reported on Saturday. The Melbourne-based telco could complete the sale of its unit that publishes a range of print and online directories including the White Pages and the Yellow Pages to an unnamed U.S. firm as soon as next week, the Australian Financial Review reported, citing unidentified sources. A Telstra spokeswoman declined to comment. Telstra reported a 13 percent rise in net profit after tax of A$ 3.9 billion for the year ending June 2013, compared with A$ 3.4 billion a year earlier, underpinned by growth in its mobile business.

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