Minister - Coonan - Telstra's proposed share buy-back

Senator the Hon Helen Coonan was Minister for Communications, Information Technology and the Arts from 18 July 2004 to 3 December 2007. This site is available for archival purposes only.

Senator Stephen Conroy is the current Minister for the Department of Broadband, Communications and the Digital Economy

Commonwealth Coat of Arms

JOINT MEDIA RELEASE

SENATOR THE HON HELEN COONAN
MINISTER FOR COMMUNICATIONS,
INFORMATION TECHNOLOGY AND THE ARTS

SENATOR THE HON NICK MINCHIN
MINISTER FOR FINANCE AND
ADMINISTRATION

TELSTRA'S PROPOSED SHARE BUY-BACK

61/04

The Government continues to support the focus of the Telstra Board on its program of capital management, and focusing on meeting the needs and expectations of customers.

Telstra's proposal to conduct an off-market share buy-back of $750 million provides Telstra shareholders with an opportunity to sell some or all of their current shareholdings.

Consistent with the position adopted in Telstra's 2003 buy-back, the Government has decided that it will not participate in the proposed share buy-back.

27 October 2004

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