Telstra Limited
(ASX:TLS) shareholders are expected to approve an $11 billion deal with the federal government’s National Broadband Network at the company’s annual general meeting tomorrow.
If approved, it will see Telstra disconnect all of its copper-based network and sell connections to homes and businesses to NBN Co.
Chief executive David Thodey told the ABC’s Inside Business yesterday the industry’s got a bad track record in terms of M&A’s, and so any plans to expand the company overseas would have to add value and give good return to shareholders.
In the 2011 financial year Telstra reported a net profit of $3.25 billion.
