Australia's PM Says T3 Sale Remains Under Consideration

SYDNEY -(Dow Jones)- Australian Prime Minister John Howard confirmed Thursday that the Telstra privatization proposal hasn't yet been resolved.

Howard, who earlier this week said the sale of the 51.8% third tranche stake remains under consideration, told reporters in Canberra that "I don' have anything to add to what I have previously said on that subject".

He wouldn't comment when asked what is causing the delay in approving the sale, which could raise A$22.7 billion at current market prices.

Cabinet discussed the sales process, called T3 by investment bankers, on Tuesday but broke up without making a decision amid some criticism of the sale by backbench government lawmakers.

-By Barbara Adam, Dow Jones Newswires; 612-6208-0901; barbara.adam@dowjones.com
-Edited by Ian Pemberton

(END) Dow Jones Newswires"

Posted to the site on 24th August 2006