[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."
http://www.theage.com.au/technology/technology-news/telstra-11b-nbn-deal-vote-delayed-20110318-1bzqn.html
Melbourne, Victoria, Australia
jwhit at janwhitaker.com
blog: http://janwhitaker.com/jansblog/
business: http://www.janwhitaker.com
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