Abbott Government Calls In Spin Doctors To Sell Medibank Private

Getty/Win McNamee

The Abbott Government is readying Medibank Private for sale according to the SMH this morning which reports that a price tag of $4 billion is being placed on Australia’s biggest health insurer.

Interestingly because Lazard’s, who were appointed by the Government to scope out the plans for a privatisation, are yet to report, it’s not the bankers that the Government has called in to value Medibank Private and set the scene for a trade sale or listing, but rather a public relations firm.

From the SMH:

Fairfax Media has learnt that a fortnight ago a team of corporate spin doctors began drawing up plans to sell the idea for a full or partial-privatisation to the public.
The company, Newgate Communications, whose 10 senior executives include four former Liberal government staffers, is being paid $2000 a day to devise a communications strategy.

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