[LINK] Telstra NBN vote delayed

Jan Whitaker jwhit at janwhitaker.com
Fri Mar 18 11:14:45 AEDT 2011

"Telstra $11b NBN deal vote delayed
Ben Grubb
March 18, 2011 - 11:10AM

Telstra has pushed back a crucial shareholder vote on its $11b 
financial heads of agreement with NBN Co, the government-owned 
company charged with building the federal government's national 
broadband network.

The deal, which requires shareholder approval, was to be put to them 
in the first half of this year.

But in a statement to the share market this morning, Telstra said 
that it had "now reached the point where a 1 July meeting is no 
longer practicable".

However, it said that negotiations continued to "progress well, with 
all parties working together to agree and document the various 
detailed arrangements required to implement a transaction of this 
scale and complexity".

It said a "number of matters" were yet to be finalised, including 
some that required government approval.

The telco giant said it was looking at options for an alternative 
meeting date for the vote."


Melbourne, Victoria, Australia
jwhit at janwhitaker.com
blog: http://janwhitaker.com/jansblog/
business: http://www.janwhitaker.com

Our truest response to the irrationality of the world is to paint or 
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~Madeline L'Engle, writer

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