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TELSTRA GROUP LIMITED Capital/Financing Update 2004
65927_rns_2004-10-26_b3af0851-cdc8-45e5-bea0-70f88685f0f3.pdf
Capital/Financing Update
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27 October 2004
The Manager
Company Announcements Office Australian Stock Exchange 4th Floor, 20 Bridge Street SYDNEY NSW 2000
Office of the Company Secretary
Level 41 242 Exhibition Street MELBOURNE VIC 3000 AUSTRALIA
Telephone 03 9634 6400 Facsimile 03 9632 3215
ELECTRONIC LODGEMENT
Dear Sir or Madam
Government announce it will not participate in Telstra's proposed share buy-back
In accordance with the listing rules, I attach for release to the market an announcement made by Senator Helen Coonan, Minister for Communications, Information Technology and the Arts and Senator Nick Minchin, Minister for Finance and Administration.
Yours sincerely
Pont book
Douglas Gration Company Secretary
Telstra Corporation Limited ACN 051 775 556 ABN 33 051 775 556
SENATOR THE HON HELEN COONAN MINISTER FOR COMMUNICATIONS, INFORMATION TECHNOLOGY AND THE ARTS
SENATOR THE HON NICK MINCHIN MINISTER FOR FINANCE AND ADMINISTRATION
Joint Media Release
$61/04$
TELSTRA'S PROPOSED SHARE BUY-BACK
The Government continues to support the focus of the Telstra Board on its program of capital management, and focusing on meeting the needs and expectations of customers.
Telstra's proposal to conduct an off-market share buy-back of \$750 million provides Telstra shareholders with an opportunity to sell some or all of their current shareholdings.
Consistent with the position adopted in Telstra's 2003 buy-back, the Government has decided that it will not participate in the proposed share buy-back.
27 October 2004