Telstra price cut

15 Dec 2005

The Australian government has slashed the price for its 51.8% stake in incumbent telco Telstra by 21% to AUD26.6 billion (USD20 billion) to reflect the telco’s share price slump.

Meanwhile, the country’s corporate watchdog, the Australian Securities and Investments Commission (ASIC) has revealed that Telstra will not face major sanctions after completing its inquiry into whether it had broken stock market rules. The investigation was launched in September.

Australia, Telstra (incl. Belong)