Telstra shareholders put NBN sale vote on hold

Telstra (ASX: TLS.AX) has decided to delay holding a shareholder vote on its $11 billion wireline network sale to the government for inclusion its National Broadband Network (NBN).

Although the service provider said in a Reuters article that negotiations were "progressing well," a number of issues that need government and regulatory approval still need to be worked out.

This means that Telstra won't be able to make its July 1 deadline to conclude the talks. It did not meet its deadline to complete the talks in 2010 either. The latest delay, however, had little effect on investors who drove up company shares 0.4 percent to AUD 2.66.  

For more:
- Reuters has this article

Related articles:
Telstra realigns management team, names new COO
Australian competitor carriers rail against NBN Co.'s pricing structure
Telstra agrees to sell wireline network to Australian government
Australian govt says it doesn't need Telstra to build the NBN

Suggested Articles

LF Edge, an umbrella organization that's part of the Linux Foundation, announced the second release of its Akraino Edge Stack.

Chris Young is leaving his role as CEO of cybersecurity firm McAfee to become a senior advisor with TPG Capital, which has a majority stake in McAfee.

CenturyLink wins a $1.6 billion contract with the U.S. Department of Interior to upgrade its network services and modernize its IT solutions.