a done deal - wots the catch?

While the spin boys do hand springs, hoping the Big Deal boosts the polls - others (shareholders, taxpayers etc), try to peer thru the smoke, wondering.

Obviously this is only the first stage in what could be a lengthy process, as Telstras chairwoman, Ms Livingstone, said yesterday.

The final agreement would be analysed by an independent expert before the company would sign off on the deal.
Clearly Telstra has negotiated very hard over the last 12 months and we are very well informed about our business and the interests of our shareholders, she said.

Of course this still requires shareholder approval and ACCC approval. Telstra expects shareholders will be able to vote on the deal in early 2011.

Then theres the hidden Govt Sweetener - To help push the agreement thru all Telstra stages inc shareholder approval, assuming necessary legis passed - Telstra will be then able to bid for 4G spectrum. (Nice of them, no mention of other Telcos?)

Anyhow, should be positive for the SP in short term, and whether this deal goes through or not, Telstras new programs and initiatives should improve it in the long term.