Platinum Equity Puts Up $411M For Stake In Telstra's Sensis

Law360, New York (January 13, 2014, 1:18 PM EST) -- Australia’s largest telecommunications company, Telstra Corp. Ltd., will unload a 70 percent stake in its struggling directories unit Sensis to Los Angeles private equity firm Platinum Equity LLC for AU$454 million (US$411 million), Telstra said Monday.

The sale of Sensis, which publishes print and online directories including the White Pages and the Yellow Pages, is expected to help bolster the directories operation, which has struggled with revenue declines as a result of increased competition from online and mobile search directories and the migration away from traditional...
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