David RichardsTelstra shares rose nearly 5 per cent this morning after the telecom giant was let back into the building of a $43 billion dollar national broadband network by the Federal Government .
Telstra shares rose nearly 5 per cent this morning after the telecom giant was let back into the building of a $43 billion dollar national broadband network by the Federal Government .
Telstra Chairman Donald McGauchie welcomed the Government’s announcement claiming “We look forward to having constructive discussions with the Government at the earliest opportunity. There is a lot to absorb in the Government’s announcement and we will consider every aspect in detail.
Mr McGauchie said the company would immediately review the Government’s proposal.
“Senator Conroy has said today that the Government does not have a pre-determined view on regulatory matters. Telstra welcomes the opportunity to provide input on the regulatory reform discussion paper.
“Telstra has publicly advanced the need for high-speed broadband for a number of years and shares the Government’s strong desire to make high-speed broadband widely available to all Australians as a key enabler of economic growth and social development.
“Telstra supports the Government’s objectives of investment in world-leading broadband infrastructure, an innovative telecommunications sector and healthy competition that provides real choice for customers.
“We will work with the Government to assist with the implementation of its strategy, but will remain at all times committed to ensuring the best interests of our shareholders, employees and customers.
“The new NBN will have little short- to medium-term financial impact on Telstra’s business as it would take at least eight years before it is completed.
“This announcement does not change our forecasts or our guidance for financial years 2008-2009 or 2009-2010.”