Telstra stock to go to Future Fund?

19 Aug 2005

According to the Australian Finance Minister, Nick Minchin, the government is considering putting a large amount of Telstra shares into the Future Fund, an investment fund to pay for public pension liabilities. The announcement has come after concern grew about the lack of enthusiasm for the AUD32 billion (USD24.1 billion) privatisation of the telco. Minchin said that selling a partial stake and putting the remaining shares into the Future Fund would make the government’s goal of privatisation easier to achieve. The government is due to begin the sale process within the next two weeks.

Australia, Telstra (incl. Belong)