No. 1 Story
ACCC clears Optus to scrap HFC network and use NBN instead
The ACCC has cleared, provisionally, the proposed deal between Optus and NBN Co under which Optus is to be paid around $800m to shut down its HFC network and transfer customers onto the NBN. read moreConroy's telecoms reforms: What did the Future Fund know?
Stuart Corner
Tuesday, 15 September 2009 09:22
The Australian Shareholders' Association is furious at the Government for forcing structural or functional separation on Telstra, and questions what the Future Fund knew when it sold down its Telstra shareholding.
Three weeks ago the Future Fund sold a third of its stake in Telstra for almost $2.4 billion. It still retains 11 percent of Telstra shares.
Wilson described the proposed legislative reforms - which in addition to putting Telstra under intense pressure to structurally separate, also strengths the ACCC's ability to reign in its market power - as "a giant kick in the teeth for Telstra shareholders,"
He complained that investors had bought shares in good faith from the Government in the last tranche of the Telstra privatization and now faced the prospect of the value of their investment being eroded significantly as a result of the new legislation.
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