The Australian government - plans to sell more shares in Telestra - Company Financial Information - Brief Article

CommunicationsWeek International, Sept 20, 1999

The Australian government plans to sell a second tranche of shares in national carrier Telstra Corp. It hopes to raise more than 17 billion Australian dollars (US$11 billion) from the sale of a 16.6% stake. This would reduce the government's shareholding to around 50.1%. The share sale is scheduled to take place on 18 October, subject to market conditions, following a book-building process for institutional investors from 5 to 17 October and the closing of the retail offer on 7 October.