Senate vote leaves Telstra in limbo

Article Abstract:

Telstra is put in a difficult position by its need to bring in revenue in conflict with its duty as a public servant. The bill which would have mandated the sale of the government-controlled two-thirds of Telestra's stock was voted down. Telestra's universal service obligation is valued at $200 million in July 1998. Since the government is the largest shareholder, politics often influence Telestra's management.

Wired Telecommunications Carriers, Telephone Communications, Telephone communications, exc. radio, Management, Planning, Telecommunications services industry, Telecommunications industry, Telephone services, Privatization, Privatization (Business), Telecom Australia

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Prime quits Argentina, but cries in New Zealand

Article Abstract:

Prime Television has sold its 50% stake in Argentina's Azul TV for $66 million. Prime will now repay some of its debt and then begin seeking an acquisition. Concerns are being raised about its New Zealand investment, which is not expected to be profitable until 2003.

Mergers, acquisitions and divestments, Television broadcasting industry, Securities, Prime Television, Azul TV

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