Medibank to be sold

04:51, Mar 26 2014

The Abbott government has confirmed it will sell its first major public asset - Medibank Private.

Australians will soon be able to buy shares in Medibank Private through an initial public offering, with Finance Minister Mathias Cormann confirming the sale of the multi-billion dollar asset.

Senator Cormann would not be drawn on how much money he hoped the government would make from the sale, which has been speculated as netting about $4 billion.

''Subject to market conditions, Medibank Private will be sold through an initial public offering in the 2014-15 financial year,'' Senator Cormann said on Wednesday.

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The Age