The Australian government has completed the privatisation of Telstra, the country’s dominant telecom company. The government has also doubled its latest share offering in the company, amounting to $11.9 billion ?? the second largest share sale this year worldwide. Initially, the government had planned to sell shares worth A$8 billion in the company and park the rest of its stake in the independently run Future Fund, created to cover government pension liabilities. However, due to excessive demand from retail and institutional investors, the government doubled its offering.
