The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
Picture of Peter Costello

Peter Costello

Treasurer

11 March 1996 - 3 December 2007

Media Release of 09/02/2004

NO.007

FOREIGN INVESTMENT POLICY: SHAREHOLDINGS IN VILLAGE ROADSHOW LIMITED

Under the Government’s foreign investment policy, all direct (ie, non-portfolio) investments by foreign interests in the media sector, irrespective of size, require prior approval. Acquisitions of portfolio share holdings of 5per cent or more must also be submitted for examination.

In administering this policy the Treasury has initiated action seeking information from parties who have acquired shares in Village Roadshow Limited on behalf of a number of foreign investors, including interests held by Swiss bank nominees.

CANBERRA
9 February 2004

Contact: David Alexander
02 6277 7340