Australian Senate passes bill to split Telstra in two, pushes National Broadband Network closer to reality
The future of Australian's Labor Party-backed National Broadband Network is looking much brighter today. The Senate voted in favor of an A$11 billion bill for Telstra's copper network that also has the Telecom company (and former government-owned entity) splitting into both a retail group and a wholesale network group. The House of Representatives will weigh in on Monday, with all signs pointing to passage there as well. The opposition party and its A$6.3 billion proposal? A lost packet.