AUSTRALIA
From Times Staff and Wire Reports
Stake in Qantas to Be Sold: The government will sell its 75% stake in the national airline through a public stock flotation in the first half of next year, Finance Minister Kim Beazley said. The float, expected to raise about $1.5 billion, was first announced in June, 1992, and was originally scheduled for the fiscal year ended last month. But Qantas Airways’ weak performance and a lackluster aviation market forced the government last year to reschedule the sale for 1994-95.
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