Fed: Medibank Private sale back on the agenda with study

AAP General News (Australia)
08-16-2005
Fed: Medibank Private sale back on the agenda with study

Just a fortnight after pushing it off the agenda, the federal government is to have
another look at selling health insurer Medibank Private.

Finance Minister NICK MINCHIN says a new study will be conducted into selling off the
insurer which made a profit of almost $45 million in the last financial year.

The news comes just days after Prime Minister JOHN HOWARD conceded the idea of selling
the company was well down his list of priorities.

A previous study, conducted in 2003, swayed the government against selling the company,
which has almost 30 per cent share of all private insurance policies.

At the time, Medibank Private had reported a $175 million loss for the 2001-02 financial year.

Senator MINCHIN has told ABC radio that since then, the company has turned its operations around.

AAP RTV sw/sb/goc/rt

KEYWORD: MEDIBANK (CANBERRA)

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