Good evening,

Pay-TV operator Telstra may not have made a concrete decision on whether it will float next year, but that’s not stopping it from sounding out investors.

Its bankers already held one round of conversations with select fund managers in late October/early November and now it’s booking in round two of its educational meetings.

It’s understandable, given the business is a combination of the future-facing streaming platforms and the legacy cable network. It’s going to take fundies some time to determine what they’d be willing to pay for this mix of new and old.

Elsewhere, Spark proxies suggest investors will vote in favour of the takeover offer from the consortium of KKR, Ontario Teachers’ Pension Plan and PSP Investments, but there’s still a question over FIRB approval; the indicative bids round for VicRoads’ registration and licensing business is turning into a game of musical chairs; Aussie drinks company Nexba is hunting for an investor to bankroll its expansion plans; and Weploy has tapped Lempriere Wells to help it raise $15 million.

Happy reading,

Anthony Macdonald, Yolanda Redrup and Kanika Sood

Street Talk editors