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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 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. |