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.
T4 believes that it is perhaps “coincidental that Telstra's price revision came on the same day that an alternative bidder for the National Broadband Network told a Senate inquiry that it estimated the network could be built for $10 billion or less.”
T4 advises “Telstra shareholders” that they are “entitled to be concerned at the company's ability to properly plan for such a big investment. Or perhaps shareholders should be more concerned about whether Telstra believes in telling the truth,” which is a clever play on T4’s name, “Tell the Truth Telstra”.
Back on the 27th of June, 2008, T4 said in a press release that: “The cost of investment in telecommunications appears to have entered a period of inflation comparable with Zimbabwe, based on comments from Telstra's most senior officers”.
The release covers in more detail the rise of Telstra’s estimated NBN build cost from $9 billion to $25 billion.
At the time, T4 noted that “the rate of increase since August equates to inflation of about 330 percent per annum. However, given the speed of the increase from $15 billion to $25 billion, the cost will be $50 billion by the end of the financial year.”
T4 then notes that: “Just three years ago, Telstra estimated that a full fibre to the home (FTTH) network would cost only about $20 billion. Curiously, network and construction experts, Ericsson and Baulderstone Hornibrook, estimated that to build such a network at that time would cost approximately half that amount.”
T4 took aim at the Telstra CEO Sol Trujillo’s salary package, noting: “The reduced spending power perhaps explains why the Telstra board found it necessary to approve such a generous salary package for Mr Trujillo last year, even after Telstra shareholders voted against it”.
A T4 spokesperson ended with the now familiar T4 “Tell the Truth Telstra” refrain: “Or perhaps someone in Telstra has not been telling the truth about the cost of the network.”
I wonder if T4 thinks that Telstra’s NBN is really the “naughty boy network” with what all the alleged non-truth telling?
David Bass
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