Now that the Telstra board has committed to get behind T3, what happens to the infamous website

Clearly, the content cannot remain the same and it is interesting that chief media attack dog Rod Bruem hasn’t updated his blog since 9 August, although he’s obviously been very busy.

The Government’s advisers have been heard cursing the website, but pulling it down might cause a free speech furore, especially given that Laurie Oakes pointed out John Howard’s rather unfortunate share spruiking before T2.

It’s not a good look to have fleeced T2 investors of $10 billion and then be perceived to offer up a doctored story when trying to flog another $8 billion worth of shares at half the price seven years later.

Speaking of which, Finance Minister Nick Minchin needs to get his maths right. There he was on Sunday talking about flogging two billion Telstra shares for $8 billion, suggesting a price of $4 a pop, but then he talked about the current price of $3.50 being “fair value”.

Hang on a minute. The government was still holding out for $5.25 up until this year’s budget. If the government is only flogging two billion shares, then it will be a $7 billion offer, making it easily the smallest Telstra offering we’ve seen.

Peter Fray

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Peter Fray
Editor-in-chief of Crikey

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