In Brief: Macquarie Banks eyes Telstra stake

Jul 21, 2006

Macquarie Bank is reportedly interested in acquiring an interest in Telstra, possibly from the Australian government's stake in the national telecom.

The Sydney Morning Herald said the move could result in easier re-financing of some of Telstra's operations or a divestment of other assets.

Australia will next month announce plans for the sale of its 51.8-percent stake in Telstra. Regulations limiting foreign ownership in telcos to 5 percent could give Macquarie a leg up on any larger stake.

The Herald said Macquarie's involvement with Telstra would be similar to recent telecom acquisitions involving major banks in Germany and Ireland. Macquarie made an unsuccessful run at Hong Kong's PCCW.

Copyright 2006 by United Press International

Explore further: Time Warner Cable says outages largely resolved (Update)

add to favorites email to friend print save as pdf

Related Stories

China's Alibaba plans IPO for week of September 8

15 hours ago

Chinese e-commerce giant Alibaba plans to hold its initial public offering on the US stock market the week of September 8, the Wall Street Journal reported Saturday, citing a person familiar with the matter.

Tablet sales slow as PCs find footing

15 hours ago

Tablets won't eclipse personal computers as fast as once thought, according to studies by market tracker International Data Corporation (IDC).

Startups offer banking for smartphone users

15 hours ago

The latest banks are small enough to fit in the palm of your hand. Startups, such as Moven and Simple, offer banking that's designed specifically for smartphones, enabling users to track their spending on the go. Some things ...

Recommended for you

User comments : 0