The study will analyse the structure of the 'T3' sale before advising whether or not the Government's finance department should proceed with the privatisation of the remaining 51 per cent of Telstra. In the event of a full sale, Gavin Anderson -- which secured the retainer following a competitive tender -- will also handle communications for a global offering expected to raise US$30 billion.
The agency, headed by CEO Ian Smith, was also the designated communications agency on the privatisation of Telstra's second tranche in 1999, which raised A$16 billion (US$12.7 billion). While the scoping study is likely to recommend a full sale, a source close to the process noted that specific hurdles lie ahead.
"The enormity of this offer is certainly a challenge -- selling that much stock out of a country that is not known as one of the major telecommunications players," said the source. "Also public opposition to privatisation in Australia is no different to anywhere else."