thodeys letter to shareholders

Highlights from Thodeys letter today ...

We want to make it clear that we are still focussed on bringing a deal to shareholders by the middle of 2011

Due to a number of key NBN Co and Government decisions remaining outstanding, completing definitive agreements with NBN Co by the end of the year is not possible

Assuming the remaining aspects are resolved, the definitive agreements will set out in detail how NBN Co will pay approximately $9 billion for Telstra copper network

We continue to discuss with the Government how it will implement the policies it announced in June 2010, including reform of the Universal Service Obligation (USO), to which Telstra has attributed approximately $2 billion

All parties continue to work on resolving the outstanding issues after the release of the NBN Co business plan. We now have more certainty on key issues such as points of interconnect and NBN Cos pricing.

Structural separation requirements will not involve an expensive split of the wholesale and retail parts of Telstra

Comment ...

Thodey carries on bleating - Doesnt inspire confidence

Lot of Assuming, Discussion and Resolving around - Make any Biz mans hair curl

Done with a Govt that doesnt know if its Arthur or Martha; So keep fingers firmly crossed