If one wanted to put money into a dominant telco downunder, which would you choose and why?

Both have seen a bit of a revival lately, both have the promise of major changes that are keeping people keen, i.e. special div or cap repayment vs oz govt freeing up market and equity.

TLS seems to have better numbers when P/E, NTA and yield etc are compared, but all the talk is of TEL and the possible extra divvy.

Thoughts?