Telstra Corp
(ASX:TLS) says it supports prompt passage of the National Broadband Network legislation.
The Telecommunications Legislation Amendment Bill 2010, or Competition and Safeguards Bill, was introduced to Parliament yesterday.
The Telco says on balance it supports the passage of the bill and is urging the Coalition and independent Members of Parliament to throw their support behind it as well.
CEO David Thodey says the company believes the interests of Telstra shareholders would be best served by the Bill being passed this year so that a definitive agreement on its involvement in the National Broadband Network can be reached quickly.
Telstra is hoping swift passing of the Bill will help it finalise its multi billion deal with the Government.
Telstra’s 2010 fiscal year result was a profit of $3.94 billion.
