Transcript: Fairfax's Hoax Telstra Citigroup Story

Tuesday, 29 June 2010, 4:27 pm
Article: The Scoop Team

The following is the full text of the hoax story published briefly by Fairfax news websites in Australia on Sunday night. The story was obtained from the Bing search engine cache.

The story was produced as a result of a hoax email sent to the Age purporting to be from a correspondent in the US.

Citigroup has since requested an inquiry into the matter by market regulators.

For more background see… Brisbane Age - Hoax Telstra email sparks regulatory probe - ASHER MOSES June 28, 2010 and Smartcompany: Telstra takeover hoax sparks investigation - Tuesday, 29 June 2010 11:19
James Thomson

Transcript of hoax story follows:

Citigroup to take control of Telstra
MALCOLM MAIDEN June 27, 2010

US financial giant Citigroup, a global financial conglomerate with operations in consumer, corporate, and investment banking has announced plans to acquire a controlling stake in Telstra (ASX: TLS) via a cash-and-share deal to boost competitiveness and efficiency.

Citigroup said the board yesterday approved the investment, ¬according to the company’s filing with financial regulatory authorities in the United States and Australia.

Additional synergies are expected to be explored to strengthen both companies' commercial positions.

Citigroup's investment in Telstra marks the beginning of a new era of growth for the company.

ENDS

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