Fahey announces second Telstra share offer

Telstra chief executive officer, Ziggy Switkowski and Finance Minister John Fahey yesterday detailed the second Telstra share offer, scheduled for October 1999.

The second offer will comprise 2.13 billion shares.

Current holders of Telstra shares will be entitled to one share for every five they hold, up to a limit of 10,000 new shares.

According to press reports, the government has not yet indicated whether the shares will be offered at a discount to their current price.

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