Telstra share sale gathers pace as lead managers appointed

26 Sep 2006

The Australian government has appointed eleven brokers as retail lead managers for the AUD8 billion (USD6.1 billion) sale of a portion of its shares in incumbent operator Telstra. The state plans to sell around a third of its remaining 51.8% stake to retail and institutional investors in a public offering to take place in October and November. Finance Minister Nick Minchin said the retail syndicate will consist of the retail businesses of the sale banks ABN Amro Morgans, Goldman Sachs JBWere, UBS Wealth Management and UBS affiliate Bell Potter, as well as E*Trade, Shaw Stockbroking, CommSec, Wilson HTM, Ord Minnett, Patersons and Citigroup Wealth Advisers.

Australia, Telstra (incl. Belong)