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Australian government plans with states to sell $117 billion in assets to raise capital
Reported by: Associated Press
Reported: Wednesday, February 12, 2014 8:32 PM EST
Australian Finance Minister Mathias Cormann says his government is discussing with state governments plans to privatize assets to raise as much as 130 billion Australian dollars across the nation.
Cormann on Thursday was not specific on what assets were being considered for sale, aside from his government's plan to sell health insurer Medibank Private, which is estimated to be worth up to AU$4 billion.
Treasurer Joe Hockey, who chairs a meeting of G20 finance ministers in Sydney this month, will likely reveal more of his privatization plans when he delivers his conservative government's first annual budget to Parliament on May 13.