Government wants to lure foreign investors to Telstra

12 Aug 2005

The Australian government is currently planning a series of initiatives designed to attract foreign investors to the country via the forthcoming privatisation of Telstra. The government said it will lift the foreign ownership cap from 35% to 49% as one of the measures. In the past foreign investors have shunned Telstra offerings and as a result they own just 6% in the company, but the government hopes that this time will be different. The 51.8% stake in Telstra is worth around AUD32 billion (USD24.7 billion).

Australia, Telstra (incl. Belong)