The Government has offered Australia's three mobile operators, and vividwireless, renewal of their existing spectrum allocated on 15 year licences in the late 90s and early 2000s at set prices, while the Government expects to rake in $3 billion.
Harrison Young, a former chairman of Morgan Stanley Australia, has been named as chairman of the NBN Co to replace executive chair Mike Quigley who will remain CEO and a director of the company.
Communications minister Stephen Conroy said Young's appointment followed a selection process involving external search firm Egon Zehnder International, executive leadership consultancy EWK, and consultation by the secretary of the Department of Broadband, Communications and the Digital Economy. Young will take up his post immediately.
He is a director of the Commonwealth Bank of Australia and serves on the Court of Directors of the Bank of England. He is also chairman of Better Place (Australia) Pty Limited, the local operating subsidiary of the global electric vehicle services provider.
He is also currently, deputy chairman of Asialink and of the Asia Society AustralAsia Centre, a director of Florey Neuroscience Institutes and chairman of its foundation and a director of the New York-based Financial Services Volunteer Corps.
From 2003 to 2007 he was chairman of Morgan Stanley Australia and from 1997 to 2003 a managing director and vice chairman of Morgan Stanley Asia. Prior to that, he spent two years in Beijing as CEO of China International Capital Corporation.
Conroy said that Young has made donations to candidates from both the Liberal and Labor parties, one such being $5,000 to the minister for finance and deregulation, Lindsay Tanner, prior to the 2007 election. Therefore Tanner had taken no part in selecting Young for the position.
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