Telstra investors launch anti-separation campaign

From
http://www.itnews.com.au/News/157551...-campaign.aspx

Expresses "deep concern" at the proposed changes.

The second largest shareholder in Telstra has kicked off a campaign to try
and persuade the Federal Government to change its mind about forcing the
telco to structurally separate.

Bruce Teele, chairman of the Australian Foundation Investment Company, which
with its associates owns around $200m of Telstra shares, has written an open
letter to the Prime Minister, MPs and the Senate.

In the letter, which was published on the AFIC website (Word document),
Teele expresses his "deep concern" at the proposed changes to the regulatory
framework.

"At the time I acquired my shares in Telstra there was no prospect of the
Government taking such unprecedented steps to attack the company and its
shareholders. The Government has reaped the benefit of selling its interests
in the company and having done so it now seeks to seriously damage the
interests of all those who acquired their shares in good faith.

"I would urge that the Government seriously reconsider its approach which is
to significantly undermine Telstra's position to the detriment of well over
one million Australian shareholders ," said Teele in the letter.

The Future Fund, which is the largest Telstra shareholder, sold around
$2.4bn worth of Telstra shares in late August, less than a month before the
government announced its new regulatory framework.

Aussie Bob wrote:

> From
> http://www.itnews.com.au/News/157551...-campaign.aspx

> Expresses "deep concern" at the proposed changes.

And Conroy and Rudd just keep yawning.

> The second largest shareholder in Telstra has kicked off a campaign
> to try and persuade the Federal Government to change its mind about
> forcing the telco to structurally separate.

Taint gunna happen, you watch.

> Bruce Teele, chairman of the Australian Foundation Investment Company, which with its associates owns around $200m of
> Telstra shares,

They ****ed up very spectacularly indeed. Their problem.

> has written an open letter to the Prime Minister, MPs and the Senate.

And they have wiped their arse with it.

> In the letter, which was published on the AFIC website (Word document), Teele expresses his "deep concern" at the
> proposed changes to the regulatory framework.

Bet that had Rudd and Conroy cowering under their desks.

> "At the time I acquired my shares in Telstra there was no prospect of the Government taking such unprecedented steps
> to attack the company and its shareholders.

Lie.

> The Government has reaped the benefit of selling its interests in the company

Different govt, stupid. A govt that didnt even agree with the govt doing that.

> and having done so it now seeks to seriously damage the interests of all those who acquired their shares in good
> faith.

Like that or lump it.

> "I would urge that the Government seriously reconsider its approach which is to significantly undermine Telstra's
> position to the detriment of well over one million Australian shareholders ," said Teele in the letter.

And Rudd and Conroy yawned, again.

> The Future Fund, which is the largest Telstra shareholder, sold around
> $2.4bn worth of Telstra shares in late August, less than a month
> before the government announced its new regulatory framework.

They had always said that they would be reducing their shareholding in Telstra.