[smh] THE national broadband network has cleared another hurdle, after Telstra and the NBN Co nailed down details of their $11 billion deal designed to lower the network's cost.
The agreement of ''key commercial terms'', announced yesterday, paves the way for Telstra to shut down its copper wire network and share its infrastructure with NBN Co, allowing for a faster rollout.
Telstra shareholders must now vote on whether to proceed with the complex deal, which will be thrashed out by lawyers before being put to a vote as early as July. The government hailed the agreement as a big step towards bringing high-speed internet to households.
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The Minister for Broadband, Stephen Conroy, said the government and Telstra had also agreed to a $100 million package to retrain Telstra workers for the network rollout, and a publicity campaign to educate people about the network.
The deal between NBN Co and Telstra was announced at Telstra's half-year financial results, where the company revealed a 36 per cent decline in profit.
Broadband rollout boost