Ann: Trading Update-PRT.AX, page-25

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20,476 Posts.

2023

14/11/16

17:54

Post #: 20608214
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Originally posted by Wing it ↑

'The Turnbull government has admitted the media reform package may be delayed until 2017 as it firmly rules out breaking up the legislation to pass the bill through the Senate despite being unable to overcome stubborn resistance from Labor.' - The Australian 14 Nov

The Communications Minister also made the comment - "We continue our discussions with the cross bench. I never seek to speak for individual cross benchers but the discussions have been good. There's no objection in principle to what we're doing and we will continue those discussions until we're in a position to put the bill to a successful vote."

Looking at the Senate sitting calendar, the Senate has a week off this week (lots of reading to catch up on I guess as well as a round or two of golf and a bit of negotiating) but will sit again next week. That will be the last sitting for 2016, so if the bill isn't voted on by then we will have to wait until they sit again which isn't until the 7th of February 2017.

Going by the Ministers comments, I'm guessing that the cross benchers are not against the bill but are dragging things out as they negotiate 'under the table' support for their own political agendas. Hopefully they will make a decision this year and not let it drag even longer than it already has.

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Nice cross trades today - two lots of over 400k shares , always a good sign when it's happening share trends up

PRT Price at posting: 32.5¢ Sentiment: Buy Disclosure: Held
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