thomasmmcharles
Do³±czy³: 08 Maj 2020 Posty: 40
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Telstra shares lost over 5% on Tuesday after details of Conroy's plans became public. Also on Tuesday, the Australian Shareholders' Association Chief Executive Stuart Wilson criticized the reforms on the grounds that they would hurt investors. Wilson also questioned the Future Fund -- the body responsible for investing the government's budget surplus and the proceeds from the privatization of Telstra -- which sold off a third of its remaining Telstra stakes three weeks ago to cash in almost 2.4 billion Australian dollars ($2.1 billion). |
Given the Future Fund sold a substantial block of Telstra shares shortly before the "devastating announcement," Wilson told Australian reporters that the coincidence was worth investigating.
Governed by the Future Fund Act of 2006, which gave it the objective to build up the federal government’s long term financial strength, the fund is supposed to be run independently under the management of the Future Fund Board of Guardians. which is chaired by David Murray, the retired CEO of the Commonwealth Bank of Australia. As of the end of June this year, the total asset value of the Future Fund was slightly over 61 billion Australian dollars ($53 billion).
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jonsmaradona
Weteran
Do³±czy³: 08 Maj 2020 Posty: 808
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After the ambush from the Australian Shareholders' Association, various members of parliament, including opposition frontbencher Bob Baldwin, also pressed for an probe into whether the federal government leaked information to the Future Fund and hinted it should sell part of its stake in Telstra, various Australia newspapers reported Wednesday.
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