Aussie banks likely to handle Telstra sale

Oct 13, 2005

Australia will likely turn to panels of bankers to manage the government's divestiture of its $20 billion stake in telecom giant Telstra.

The Financial Times said Thursday that officials said four such panels would likely be named with the lucky winners announced next month and the privatization program completed by 2007.

Government officials told the newspaper that having a large number of banks signed up allows for more flexibility in developing hybrid debt products and other arrangements to meet changes in the world financial markets during the coming months.

In the meantime, political considerations remain a wildcard. One particular concern is that taking the government out of Telstra's operations could lead to reductions in service in Australia's vast rural regions, particularly in broadband and other data services.

Copyright 2005 by United Press International

Explore further: Review: Samsung wireless headphones help keep the noise down

Related Stories

How commercial spaceflight makes a profit

Oct 02, 2014

There's a big difference in thinking between governments and the private companies that participate in space. While entities such as NASA can work on understanding basic human health or exploring the universe ...

China panel fires adviser over Qualcomm tie (Update)

Aug 14, 2014

A panel that advises China's Cabinet on anti-monopoly policy has fired an economist who was paid to help prepare a report for Qualcomm, a U.S. company that is the target of a pricing investigation, according to state media.

Obama renews solar bid despite setbacks

May 09, 2014

President Barack Obama praised Friday measures taken by his administration to develop solar energy in the United States, despite attacks and setbacks from his Republican opponents.

Recommended for you

Domino's taking orders via tweet

13 hours ago

Domino's on Wednesday launched perhaps the easiest way to satisfy a pizza craving this side of mind reading: order by tweet.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.