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Of course the best option for consumers would be the splitting of telstra with the gov retaining the infrastructure selling equally to all companies wanting access, but the libs like privatising things, electricity, gas, water, you name it they sell it so I doubt this will turn out the way everyone wants...
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With the price of Telstra shares dropping by the day, this would be a good time for the government to re-aquire the 49% of shares they don't own, split the wholesale division and re-sell the retail division.
With the new Telstra boss driving the price down by the day, once the shares reach the original T1 sale price, it effectively means the government has had an intrest free loan for the last x number of years, and banked the profit from T2.
Kick in the 3 billion from the broadband and communications fund and it's a very cheap option.
This is what we should be all pushing for, as the benefits to consumers will be greater if the government retains ownership of the infrastructure.
The government like anyone else is free to purchase shares on the open market. Once they hold 90% they (and anyone else) can acquire the remaining 10% through complsory acquisition laws.
No shareholder approval required.