Corporate governance experts say Telstra had an obligation to reveal any financially sensitive information to all its 1.6 million shareholders.
The experts believe Telstra (tls.ASX:Quote,News) should not be treating the Federal Government – a 51.8 per cent stakeholder – any differently to its other shareholders when it comes to revealing price-sensitive information.
The federal opposition claims Telstra's executives gave Prime Minister John Howard and senior ministers a secret document at a meeting last month.
But the information, which revealed Telstra was borrowing from its reserves to pay shareholder dividends and that there were faults in almost 14 per cent of its phone lines, was not given to the stock market or other investors in the telco.
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