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began to privatise the corporation. The first three stages was initiated by the Howard government: the first, informally known as "T1" (with shares priced at $3.30), occurred in 1997. "T2" ($7.40) followed in 1999; "T3" ($3.60) in 2006.In T1, the government sold one third of its shares in Telstra for $14 billion and publicly listed the company on the Australian Securities Exchange. In 1998, a further 16% of Telstra shares were sold to the

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