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Telstra strikes US$9.6bn NBN deal

MIS Australia | June 21, 2010
The federal government and Telstra have moved a step closer to striking a deal that would see the National Broadband Network rolled out faster, while saving billions of dollars in terms of the project's cost.

"The bottom line is: this is a better deal for the Australian taxpayer because we've struck a negotiated outcome with Telstra."

It's expected the announcement, made on Sunday when financial markets were closed, will prompt a rally in Telstra's share price when markets open on Monday.

Communications Minister Stephen Conroy said the agreement paved the way for Telstra to participate in the rollout of the network, and was likely to result in the telco becoming NBN Co's biggest customer.

"This will be delivering cheaper and faster services for all Australians," Senator Conroy said.


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