Unsolicited Telstra share purchase offer on the loose

IT News, 2 May 2008

Telstra has warned its shareholders they may receive an unsolicited offer to purchase Telstra shares at a heavily discounted price.

The potential offer, from a company called Share Express, could see some shareholders invited to sell their shares for just $2.72, or just 59 per cent of the closing May 1 Telstra share price of $4.62, said Telstra Company Secretary, Carmel Mulhern.

According to Mulhern the offer has no association with Telstra, the Government's T3 Sale Company or with the final payment required to be made by holders of T3 instalment receipts.

"We understand that this offer has been mailed to less than one percent of our shareholders," she said. "We recommend that any shareholder who receives the offer should not accept it without seeking independent financial advice, because the offer price is far below the current market price."

http://www.itnews.com.au/News/75174,unsolicited-telstra-share-purchase-offer-on-the-loose.aspx