Feeds

Telstra sale given go-ahead

Just needs a rubber stamp

The essential guide to IT transformation

The Australian Government has moved a step closer to flogging its 51.8 per cent state in incumbent telco Telstra after winning a key vote earlier today.

The Australian Senate backed plans to flog the Government's stake in the business despite a concerted campaign by opposition MPs and trade unions.

The Government is set to raise around A$30bn (£14bn) from the sale of its share in the firm, which is expected to go ahead next year.

In a bid to ease concerns about the future the Government has agreed to set aside more than A$3bn to help protect and improve services in rural areas.

As part of the sell-off, the Government also plans to separate Telstra's retail, wholesale and network business to ensure that the telco "treats its wholesale customers fairly".

Speaking last week Communications Minister Helen Coonan said: "We are now at a critical point in Australia's telecommunications history when consumers are looking for new advanced services and the industry is having to make major investment decisions."

She said that the sale would help boost competition and improve services for customers.

Opponents of the sale, though, claim that services will decline, especially in rural areas. And there are fears that as many as 14,000 Telstra jobs could be axed following the privatisation of the telco.

The Community and Public Sector Union (CPSU) claims that details of the job losses and other cost-cutting measures are contained in a confidential document drawn up by senior execs at the company, something rejected by Telstra. ®

Next gen security for virtualised datacentres

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?