TLS chart, page-20

'it will take years to play out'.?
infraco separation basically immediate ie 1/7/18.
imo assets well above $25b,nbn infrastructure impossible to duplicate,pacnet try and get a poi to mainland china and build a couple of mainland china data centres.Seacables including the massive poi to various countries,by memory over 2000 etc etc.
Once infraco ceo is in place with separate fy19 financials i would expect there are many investment managers ,lge super funds that will find this a very attractive investment.(hope he is a ceo and not a muppet).
The only issue imo is any sale will,as posted,be restricted to a non controlling interest due to nbn lease agreement and may require firb approval.Otherwise imo tls has full intentions of monetising half the value asap,which could be within fy19.
nbn lease 30 year lease agreement cpi linked should satisfy the ratings agencies,otherwise a brown paper bag with $2500 ? in it ie the max co's are allowed to pay ratings agencies.
ps tls already tried to monetise lease agreement,but it was a nbn lease agreement so can understand why nbn said no.But this is tls's infrastructure so nbn has no say,but as posted maybe a clause as to who 'controls' nbn infrastructure,but absolutely tls is rushing to separate infraco like the tried to sell lease so i would expect sale infraco is high on the tls priority list..
Anyway ,something needs to be done and i am sure the lge insto's are expressing the concerns to the board.