Australian fixed line incumbent Telstra has announced that it has finalised its Definitive Agreements with NBN Co and the government related to its participation in the rollout of the National Broadband Network (NBN). The announcement comes just a few weeks after news late last month that the Australian Competition and Consumer Commission (ACCC) had accepted a revised Structural Separation Undertaking (SSU) put forward by Telstra. The telco’s chief executive officer, David Thodey, confirmed that with the finalisation of the Definitive Agreements, the SSU had also come into force, with the executive noting: ‘The Minister has made decisions that enable Telstra to retain ownership of our hybrid fibre-coaxial (HFC) network and our share in FOXTEL, which along with ACCC approval of the final Migration Plan, were pre-conditions to the SSU coming into force.’ Commenting on the long road to reaching a final deal, Mr Thodey added: ‘Today we have concluded almost three years of intense and complex negotiations, with multiple parties, and we are very pleased we have delivered this positive outcome for our customers, employees and shareholders.’ The deal with NBN Co, coupled with associated government policy commitments, are expected to ‘provide Telstra approximately AUD11 billion (USD11.67 billion) in post-tax present value over the long-term life of the agreements’
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OVETEL Telstra inks Definitive Agreements for NBN participation
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