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Telstra, Optus in national broadband network deals Telstra, Optus in national broadband network deals
(about 3 hours later)
The Australian government has reached an agreement with two telecommunications companies to bring high-speed internet to most of the nation.The Australian government has reached an agreement with two telecommunications companies to bring high-speed internet to most of the nation.
Telstra and Optus will close down their infrastructure and transfer customers to the national broadband network.Telstra and Optus will close down their infrastructure and transfer customers to the national broadband network.
Telstra will make A$11bn ($11.6bn; £7.2bn) over decades.Telstra will make A$11bn ($11.6bn; £7.2bn) over decades.
Australia's big distances and rough terrain mean high costs and slow internet speeds for many.Australia's big distances and rough terrain mean high costs and slow internet speeds for many.
Optus, owned by Singapore Telecommunications, will make A$800m.Optus, owned by Singapore Telecommunications, will make A$800m.
The deals are part of the government's plans to roll out a A$36bn national broadband network.The deals are part of the government's plans to roll out a A$36bn national broadband network.
The project is lead by the state-owned National Broadband Network Company. The project is led by the state-owned National Broadband Network Company.
The plan is to connect more than 90% of Australia's population to a fibre optic network that will be among the fastest in the world.The plan is to connect more than 90% of Australia's population to a fibre optic network that will be among the fastest in the world.