ABB has 300m revenue, almost no infrastructure, so ServeCo will...

ABB has 300m revenue, almost no infrastructure, so ServeCo will be similar to that from an asset POV.
ABB has market cap of 550m, 1.5x revenue, granted thats mostly a big chunk of expectation of future growth, but its also barely profitable.

So maybe $15b for servco, $4b for towers has been mentioned, Infraco had a book value of $11b under the initial plan in 2018 which is now equivalent to Infraco Fixed and International (probably), so that gets to the $30b market cap Telstra currently has.

But the big benefit will come from improved management due to simplification which gives them focus, and managers will be able to make decisions without looking up so high. Look at what Amaysim did with just focusing on reselling one product, they got a 1m SIOs.

Telstra has been bogged for years, separation is a towtruck.