Telstra will adopt a wait-and-see approach to the bidding process - from which it has been excluded - for the multi-billion dollar national broadband network, chairman Donald McGauchie says.
Mr McGauchie's comments come as Telstra workers have walked off the job around Australia as they try to negotiate a collective agreement.
The telco's bid for the $10 billion network will not be considered by the government after it failed to include a plan about how to involve small and medium enterprises in the project.
Almost $6 billion was wiped off Telstra's market value on Monday in its biggest one-day fall since the telco was partially-privatised in 1997.
Mr McGauchie said the company would have risked more shareholder losses if it had entered the bidding process without certainty of the rules governing operation of the network.
He blamed a highly-technical bureaucratic process for the decision to exclude Telstra, adding there would be negligible effect on the company.
Other bidders had made "immense promises" to governments in the past and had delivered nothing.
"We'll just wait and see what happens," Mr McGauchie told ABC Radio, when asked whether Telstra would consider rejoining the bidding process.
In the meantime, the company would move onto other platforms and other technologies, Mr McGauchie said.
Meanwhile, opposition communications spokesman Nick Minchin says the national broadband network tender process will end up in a "legal morass".
"The national broadband network promise of Labor's has been mired by delays and confusion," Senator Minchin told ABC Television on Tuesday.
"Now I think it's just going to end up in a legal morass."
Senator Minchin described the tender process for the network as a "complete shambles".
"I mean, Labor have been in office now for 12 months and they have delivered absolutely nothing on broadband.
"In fact, Australia is worse off because there's been an investment freeze while everyone waits for the outcome of this tender."
The national broadband network couldn't go ahead without Telstra's involvement as the telco owned the copper infrastructure from the node to the home, Senator Minchin said.
"This is ending up in a complete shambles, it could well end up in the courts, I doubt that we'll see any construction before the end of next year.
"What Labor is doing is actually setting Australia back in the pursuit of high speed broadband."
Union Sets Up Strike
Telstra workers have stopped work around Australia to attend mass meetings as part of their campaign to negotiate a collective agreement.
The Communications Electrical Plumbing Union (CEPU), which represents linesmen and technicians, said on Tuesday it was stepping up its campaign because Telstra had shown no interest in negotiating with the unions on a collective agreement.
But Telstra says only 15 per cent of its workforce are members of the union and it is confident that its services will not be disrupted.
"Most Telstra employees are at work serving our customers," Telstra spokesman Martin Barr said.
He said Telstra had put forward a fair and competitive offer which protects all current terms and conditions of enterprise agreement employees and guarantees 12.5 per cent pay increases over three years as well as up to 7.5 per cent in performance-based bonuses.
Last weekend, Telstra CEPU members banned overtime and call-outs.
CEPU Victorian communications divisional president Len Cooper said its members will still be available to assist with emergency calls and vital services to rural and regional parts of Australia during industrial action.
Telstra's office workers, who are members of the Community and Public Sector Union (CPSU), are also part of the campaign for a collective agreement.
Union president Louise Persse said on Tuesday customers could expect longer than usual delays.
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