Telstra investors become sceptics

Telstra shares continued to drop yesterday amid ongoing market scepticism about its investment with Pacific Century Cyberworks and the sale of assets to Solution 6.

Market confidence is not expected to turn around in the near future, particularly as Moody's Investors Service and Standard and Poor's echoed market sentiments and downgraded Telstra's credit rating this week.

With the shares plunging 14 cents to an 18-month low of $7.07 yesterday, and installment receipts from the second share issue also falling 15 cents to $4.11, Telstra chief executive, Dr Ziggy Switkowski will no doubt be questioned on the price fall when he addresses a Melbourne business lunch today.

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