I'm buying VOC because, page-8

TPM can't move ATM, just don't have the ability for at least 2 years.
VOC may not even need to do asset sale if they produce good results this half, the government may finally make the sensible decision and write down the value of the NBN by 50% which would completely change the picture for all telcos in Aus, particularly so for VOC, one decent debt refinance and it's in the clear, just needs something positive to happen to make it possible.
I don't think it will happen before sale of NZ but essentially this in parts is worth way more than the whole.