In response to media reports, Telstra has expressed confidence in meeting the December 20th deadline for their structural separation undertaking (SSU). The SSU will see Telstra break up its current fixed line monopoly.
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As stated by ITWire, the consequences of missing the deadline will see the agreement between Telstra and the NBN Co become null and void if no other action is taken.
Although Telstra haven’t said they’ll meet the December 20th deadline, in a statement they said “the explanatory memorandum issued to shareholders on the NBN transaction states the end date of the definitive agreements can be changed by agreement between Telstra and the NBN Co.”
“Telstra is currently considering the time needed to complete the conditions precedent. Should an extension to the end date be required to provide the ACCC time to conclude its consideration of the SSU, then Telstra will communicate it to shareholders when such an agreement is reached with NBN Co.”
The statement continued with Telstra saying it will submit a revised SSU shortly.
In response, the ACCC said in its statement: “The ACCC reiterates its previous advice that it does not consider the remaining issues under discussion to be insurmountable. The timing of lodgement for a revised undertaking remains a matter for Telstra, but the ACCC understands that Telstra intends to lodge shortly.”
