Telstra stake may be sold in one transaction

2 Nov 2004

The Australian government has revealed plans to sell its 51.1% stake in the fixed line incumbent Telstra in one tranche, a move which would be one of the world’s biggest equity sales. The total stake is worth around AUD30 billion (USD22.4 billion). The sale has been made possible by the Conservative Party’s election win last month. The government sold a third of Telstra in an initial public offering in November 1997, for AUD14.3 billion, and two years later it raised a further AUD16 billion when it sold a 16.6% stake.

Australia, Telstra (incl. Belong)