Telstra Shares Rise
10 October 2007
Australian telecommunications giant, Telstra, saw its shares rise 6 cents to $4.52 yesterday after they signed an agreement with the government to provide the faster ADSL service at 211 exchanges.
The deal is reportedly worth around $98 million in government funding to Telstra, who will provide broadband services to more than 50 new areas in Queensland and more than 60 communities in Victoria.
Australia has so far lagged behind other nations when it comes to internet service. Residents in well-established communities such as Coonabarabran and Gilgandra in NSW have only been able to enjoy broadband speeds since July 07.
The new agreement will ensure that all Australian's will be able to access the faster download speeds available through ADSL.
Elders and Optus have already signed an agreement worth around $1 billion to provide wireless broadband in rural Australia.
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