Further blow to government Telstra sale as profits slump

10 Aug 2006

The Australian government's plans to sell its remaining A$25bn ($19bn) stake in Telstra Corp, the national telecom company, have been damaged yet again by Telstra's poor second half profit figure — down 46% on the same period in 2005 — and weak outlook.

Telstra's net income slumped to A$1.04bn ...

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