Telstra cool on Sensis sale rumour

Telstra’s board played down reports that it had already briefed the federal government on plans to sell-off, float or de-merge the Sensis directories business. Any float would have a notional value of between $9 billion and $10 billion. Investment banks are pressing Telstra to consider a float of Sensis, and to use the proceeds to buy back and cancel part of the government’s 50 per cent stake in the company.