Australia to sell Telstra stake online?

14 Mar 2005

Australia’s Treasurer, Peter Costello, has said that the idea of selling the Australian government’s stake in Telstra over the internet has a lot of merit, provided it was for a good price. A pre-privatisation study is currently being carried out to examine the ways in which the government can sell its remaining 51.8% share of the Australian telco. The stake is valued at around AUS34 billion (USD27 billion). Some analysts believe, however, that the sale is ill-suited to an online auction, and that the option is being publicly touted only to put pressure on the broking houses to lower their fees.

Australia, Telstra (incl. Belong)