Nick Minchin (SA, Liberal Party, Minister for Finance and Administration) Share this | Hansard source

Existing shareholders in Telstra, of whom there are, I think, 1.6 million—shareholders like my mother, like Warren Snowdon MP, like Peter Garrett MP—will all receive prospectuses in the mail. I would urge all members of the Labor caucus, including Mr Snowdon and Mr Garrett, to read the prospectus very carefully, to look through the risks statement, to examine the very attractive offer that we have provided: our 10c a share discount, our one in 25 share bonus, the minimum entitlements which they will receive and the 14 per cent dividend yield they will get if they participate in this offer. I encourage them all to read that very carefully, to talk to their financial advisers and to make a considered decision as to whether they participate in this offer.