Questions 1. In the light of the broad political implications of the privatisation of the Commonwealth Government's most valuable business enterprise, outline what the major decision-making factors would have been in planning the sale of Telstra. [8 marks] 2. Consider the issue process used by the Commonwealth Government in both of the Telstra share offers, outline reasons why the Commonwealth Government would have chosen to employ the instalment-payment and book-build instruments as part of these share issues. Are these attractive to potential investors, and are there any potential drawbacks or problems associated with including these instruments as part of the share-issue process? [8 marks] 3. Contrast the relative levels of success associated with the Telstra 1 and Telstra 2 share offers from the perspective of both the general public and the Commonwealth Government. Is this pattern of outcomes consistent with what is suggested by the textbook and anecdotal evidence regarding the share-issue process? [4 marks]