Telstra's (ASX: TLS.AX) long-awaited deal to sell its copper network to the National Broadband Network (NBN) may finally come to a close later this month.
According to a Reuters article citing an Australian Financial Review report, the Australian government would like to be able to announce a final deal following the May 10 federal budget. However, an unnamed source said it's more likely that a deal will be finalized on May 23.
Mike Quigley, CEO of NBN Co., said that they are in "the final stages of negotiation" with Telstra last Friday.
While Telstra and NBN Co. have been negotiating terms of the proposed $11 billion deal for over a year, Telstra's shareholders are anxious to see the final deal before voting on it.
For more:
- Reuters has this article
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