Medibank shares were smashed after the insurer told analysts it couldn’t give an assurance that a criminal who accessed health records of more than 4 million past and present customers had actually left the company’s systems.
About $1.75 billion was wiped off the market value of Australia’s biggest health insurer after its shares resumed trading on Wednesday -- it is understood -- at the urging of the market operator.
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Ayesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au
