Prospectus released for Telstra share sale

9 Oct 2006

The Australian government has released the prospectus for the sale of one-third of its 51.8% controlling stake in Telstra. The sale is worth an estimated AUD8 billion (USD6 billion) and is the largest offering in a telco since a France Télécom share offer in 2004. The shares – to be listed on the Australian Stock Exchange on 20 November – will be sold in two stages, the first being at AUD2 a share, and the second in May 2008 at a price that will be determined in an institutional offer to close on 17 November.

Australia, Telstra (incl. Belong)