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Telstra sale team selected.



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MEDIA RELEASE

 

Minister for Finance and Administration

THE HON JOHN FAHEY MP

 

16/99

 

TELSTRA SALE TEAM SELECTED

 

I am pleased to announce the appointment of the Commonwealth’s international legal adviser and communications consultant for the further off er of Telstra shares.

 

The firm Coudert Brothers has been appointed to the role of international legal adviser to the Commonwealth, while the firm Gavin Anderson Kortlang has been appointed communications consultant.

 

Planning has commenced on a contingency basis, pending consideration of the legislation by Parliament.

 

Coudert Brothers was selected as the preferred candidate from a strong field of leading commercial law firms in a competitive selection process.

 

Coudert Brothers will work closely with the Commonwealth, its domestic legal adviser Freehill Hollingdale and Page (Melbourne), business adviser Goldman Sachs and the Global Co-ordinators (Credit Suisse First Boston, ABN-AMRO Rothschild and J.B. Were & Son).

 

The Commonwealth’s international legal adviser on the Telstra 1 transaction, Sullivan and Cromwell, also represented Telstra in the 1997 share offer. Now that Telstra has minority shareholders, the Commonwealth has decided that the interests of all shareholders are best protected by separate representation of both the Commonwealth and Telstra. Sullivan and Cromwell have been retained as Telstra’s legal advisers for the prospective Telstra 2 share offer.

 

Sullivan and Cromwell’s contribution to the success of the Telstra 1 share offer is recognised and highly regarded by the Commonwealth.

 

Gavin Anderson and Kortlang has been selected as communications consultant following highly competitive presentations from Australia’s leading communications consultants. The firm has experience in large scale projects such as the AMP float. Gavin Anderson and Kortlang will provide retail marketing and issues management advice to the Commonwealth in relation to the sale of further shares in Telstra.

 

Sydney

12 March 1999

 

Media contact: (Andrew Maiden 02 6277 7400 )

 

 

 

LK