THE DISTILLERY: Telstra's dough

One commentator eyes an off-market Telstra buyback, while another looks at the balance of power at Leighton.

Telstra shareholders must be among the biggest fans of the national broadband network, largely because there’s $11 billion in it for them. While we still await the outcome of the competition watchdog’s assessment of Telstra’s structural separation, the next question is what Telstra will do with all that cash. The Australian Financial Review’s Tony Boyd finds Telstra boss David Thodey talking seriously about capital management and special dividends, setting hearts aflutter on the Telstra register. Elsewhere, another business commentator says minority Leighton Holdings shareholders were comfortable with majority ownership because Wal King could find a balance between the two – so what about Hamish Trywhitt?

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