By political correspondent Emma Griffiths The Federal Government has announced it will go ahead with the sale of Medibank Private. Finance Minister Mathias Cormann has announced the health insurer will be sold through an initial public offering in the next financial year, 2014-15. He said the details were yet to be finalised, but that an independent scoping study had found no evidence that insurance premiums would increase as a result of the privatisation. The Government has previously said it wanted to sell Medibank Private at the "right time" to maximise the sale price, but Mr Cormann would not say how much he thought the insurer was worth. He said the Government wanted to ensure that Medibank customer service and staff did not suffer as a result of the sale, emphasising that it wanted employee entitlements to be retained. More » |
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