Forum Archive Index - July 2000

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

>
> Snoopy, an equally strong arguement on Telstra...maybe mesh them
> together and see what side TLS comes out on.
>
>

Of course.   That is what a forum like this is all about.   No one 
person is likely to have a complete handle on any share.    But with 
all of us together we stand a better chance of reading the real 
picture.

>
>
>.Also someone mentioned the 50% govt ownership overhang.I
> cant see any positive effect on the share if that many come onto the
> market, if ever? Surely the smaller public script makes for more
> demand.
>
>

For a while after the Telecom NZ float,  there was an overhang of 
shares of around 20% of the capital of the company.    That was back 
in the days when Telecom was stuck stubbornly just above the $2 mark.
(if only we had had perfect foresight!).    In the end  the Americans 
managed to place their shares with institutions and no 'public float 
part 2' was needed.     This and the fact that a core holding in 
Telstra would probably be highly marketable to an overseas Teleco 
leads me to think that in practice the overhang of Aussie government 
shares is more a theoretical than actual problem.

>
>
> I would be interested to hear from Jesse on this one as he
> bailed on TLS after the short burst too.
> 
>


I haven't and won't be bailing out.    I regard Telstra as an almost 
essential part of a long term portfolio.   On that point I think I 
and Frank F agree 100%.  SNOOPY




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