Federal gov follows NSW decision to sell its share of Snowy Hydro Ltd


Cabinet was expected on 6 February 2006 to approve the sale of the
federal Government’s 13 per cent stake in Snowy Hydro Ltd, moving the
electricity generator closer to a $2 billion public float, reported The Australian (7/2/2006, p.2).

Decision to sell will cloud COAG meeting: The decision follows a
controversial move by the NSW Government to sell its billion-dollar
stake in the power generator. But Canberra’s decision to sell could
heighten state and federal tensions in the lead-up to Friday’s Council
of Australian Governments meeting, which will focus on replacing the
decade old competition policy.

VIC govt undecided: Victoria is yet to decide if it will follow
Canberra and NSW’s lead and sell its 29 per cent stake in Snowy Hydro.
Federal Industry Minister lan MacFarlane has led the Government’s
efforts over several years to sell the commonwealth’s slice.

The Australian, 7/2/2006, p. 2

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