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