Telstra’s
(ASX:TLS) chief executive David Thodey says the telecommunications company will consider future acquisitions to add growth, following its $11 billion National Broadband Network (NBN) deal.
Speaking on ABC's Inside Business program, Mr Thodey promised a "big cultural change" at the company and added that the NBN deal, to lease out Telstra’s fixed-line network, came after a very long process of 12 months of deep negotiation.
Telstra currently holds a monopoly of the fixed-line market in Australia with a 75% market share, but with the NBN deal set to open up that market, Mr Thodey said he hoped to maintain a share of around 50% once the agreement was put into operation.
Telstra will progressively hand over its fixed-line customers as NBN rolls out its fibre optic network and pay for access to Telstra's ducts, trenches and exchange space.
The deal, which appears to have eased investors uncertainty for the time being, is set to be discussed at the company's November annual general meeting.
Telstra’s 2009 net profit was just over $4 billion.
