The likelihood of a sell-off of Australia's number three telco, Vodafone Australia, has been greatly exaggerated, according to both the telco itself and a local telecom analyst. Speculation about a possible sale of the telco, which is a joint venture of Vodafone and Hutchison Australia, exploded after Vodafone Group's chief executive, Vittorio Colao, was asked at an investor conference if it would consider selling it business in Australia and two other weak markets.