B-M assists in float of Oz telecomms group Telstra

Telstra, the Australian telecomms company, has hired Burson-Marsteller as international communications consultant for its partial flotation.

Telstra, the Australian telecomms company, has hired

Burson-Marsteller as international communications consultant for its

partial flotation.



The sell-off of the state-owned company is valued at approximately

Ausdollars 10 billion (pounds 4.6 billion) and is Australia’s largest

ever public share offer.



B-M is likely to pick up fees of around USdollars 1 million (pounds

600,000).



The account will be headed by Melbourne-based Jennifer Horrigan,

director of B-M’s financial practice in Australia. She will draw on the

experience of consultants from the B-M network.



’Telstra are looking for institutional investors from the UK, Japan and

the US,’ said Paul Philpotts, managing director UK B-M. ’On the domestic

front it’s a public offer, so we will be co-ordinating a huge public

awareness exercise.’



John Fahey, Australia’s minister for finance, said two per cent of the

offer will be reserved for Telstra employees. The flotation is due to

take place in the autumn and the Australian government is gauging market

demand now to decide the final share price.



’The partial sale will contribute to Telstra’s ability to successfully

compete in a deregulated telecommunications market,’ said Fahey.



B-M’s role will include retail marketing strategy, issues management,

media relations, preparation of flotation materials and advice on

advertising.



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