In mid-March the Australian government decided to follow up on the success of its initial privatization of Telstra by selling off the whole of the Australian telecoms company. The sale will be the most significant event in the country’s capital markets in the decade-and-a-half since financial deregulation was introduced.
The sale in November 1997 of a 35% tranche of Telstra established the mood, and the demand, for shares in the country’s dominant telecoms company.
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