Synopsis

In November 1997, the government sold one-third of Telstra (Dilution of Public Ownership), worth $14 billion. In March 1998, the government indicated that if they won the next election they would sell the remaining two-thirds of Telstra, and in mid-1999 a second tranche, T2, was sold. In 2002, the controversial subject – with all its implications for rural services, competition, shareholder return, government debt, political ambitions, amongst others – was back on the agenda. However, at the end of that year the government took it off again, only to put it back on the agenda in mid 2003. This report looks back at the first and second partial sales of Telstra, and provides comprehensive analysis of T3.