The only positive worth focussing on about this deal is that it...

The only positive worth focussing on about this deal is that it takes away uncertainty. Markets hate uncertainty, therefore we have rallied.
We now have a HOA that defines the downside to Telstra, and IMO it is not as bad as the market had been factoring in.
The detail is yet to be worked out, but between now and when the shareholders are being asked to vote on it, the whole deal will be fleshed out. IMO we are better off with a deal like this and concentrate on growth, rather than battle on against a vindictive government and the NBN. Lets not forget that the copper assets are a declining value.
It will be interesting to see some real figures that address the value of the USO per year. Presumably thi figure will drop straight to the bottom line.