Renaissance plan wins support

TELSTRA chief David Thodey has won resounding shareholder support for his plan to reap the group $11 billion in exchange for surrendering its role as the nation's telco wholesaler. 
 
Telstra yesterday secured an emphatic "yes" vote, with investors accounting for 99.5 per cent of the company's shares backing the "transformational" proposal.

The group is now poised to embark on a decade-long process of abandoning its old copper network under the terms of its deal with the Federal Government, making way for the roll-out of the $36 billion National Broadband Network.   More Read