China's SouFun to launch IPO in 2010 - Telstra

SYDNEY, AUSTRALIA: Australia's dominant telephone company, Telstra Corp Ltd, plans to sell down its stake in SouFun Holdings Ltd, China's top real estate website, via an initial public offer, the Australian company said on Tuesday.

Telstra holds a 51 per cent stake in the property portal.

Telstra said SouFun shareholders voted earlier on Tuesday to go ahead with an IPO next year. It gave no more details.