Telstra Corporation Ltd (ASX:TLS) and NBN Co have drawn up a series of wipeout clauses in case the project is cancelled or scaled back, that’s according to the Australian Financial Review.
Delays in the $9 billion takeover of Telstra’s fixed-line phone monopoly have reportedly been caused by speculation concerning what might happen if the Coalition wins power.
One source described the arrangement as an extensive “pre-nuptial agreement” between the companies.
The document outlining the arrangement is said to be thousands of pages in length and contains a series of contracts that both sides hope to reach final agreement on next week.
Telstra generated a net profit of $1.2 billion in the six months to 31 December 2010.
