Telstra sale approved

Article Abstract:

Australian privatisation plans include legislation passed in December 1996 authorising a sale of one-third of its telecoms utility Telstra. Analysts estimate that the sale will be worth 10-12 billion Australian dollars. Deregulation plans for the industry may delay the sale until early 1998. Other plans, including those of the state of Victoria to sell its gas distribution and retailing operation Gascor as a number of separate businesses, are presented.

Gascor

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Russia set to reform natural monopolies

Article Abstract:

The Russian government believes that economic growth can only be encouraged if prices for communications, transport and energy are reduced. For this reason, it plans to reform the country's natural monopolies in areas including electricity, gas and rail transport. The state property committee will sell around 1% of Unified Energy System in 1997, and there are also plans to sell 49% of telecommunications holding concern Svyazinvest.

Electric Utilities, Electric Power Generation, Transmission and Distribution, Electric services, Economic aspects, Russia

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Legislating for Telstra's Partial Privatization

Article Abstract:

Australia sold a third of its stake in Telstra Corporation Ltd, the country's principal telecommunications company, through a late-1997 initial public offering. The privatization generated over A$14.3 billion. Legislation passed to facilitate and enable the privatization subjected the government to the Australian Corporations Law's fundraising requirments, and obligations imposed under the law raised some interesting challenges.

Australia, Asset sales & divestitures, Government domestic functions, Management, Telecommunications services industry, Going public (Securities), Initial public offerings

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