bunclefester,
I can see what you are saying..
However, at the time, without the Government giving Telstra some assurances that they required, they could not afford to put in a full bid because they would have been handballing some very sensitive commercial information(2000 pages of info) to their competitors and the result with the NBN would have probably been the same as we are faced with now..
There is no doubt that the selling, based on the operational side of Telstra eg Profit, Free Cash Flow of $6/7 billion etc,has been grossly over sold and once the company comes up with an agreement with Rudd & Co, which must happen for the NBN to proceed in any form, the S/P will fly before you can blink.. That process is taking place as we speak..
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