Telco giant Telstra has thrown its support behind the telecommunications industry reform legislation re-entered into parliament today, which puts the telco on the path to structural separation as part of an agreement to join the National Broadband Network.
"On balance we support the passage of the Bill," Telstra CEO David Thodey said in a statement to the Australian Stock Exchange.
"We also strongly recommend that consideration be given to further amendments that guarantee appropriate checks on regulatory decision-making and bring telecommunications into line with other industries."
The Bill was re-entered into the House of Representatives this morning with a number of amendments that will pave the way for Telstra to decommission its copper network and migrate its customers onto the NBN as part of its $11 billion heads of agreement deal with NBN Co.
"We believe the interests of Telstra shareholders would be best served by the Bill being passed this year so that a definitive agreement on our involvement in the NBN can be reached quickly."
Telstra shareholders are expected to vote on the deal in early 2011.
The Bill now also gives Telstra greater certainty in accessing new wireless spectrum for its fourth-generation technology plans.