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Contacts: 

Senators

Members of Parliament

 _________________________________________________________________________________________________

[DAY] March 2010

Member of Parliament / Senator
[Address]

Dear [Name]

RE: Telstra and the National Broadband Network

I am a Telstra shareholder.

I have become increasingly alarmed by the Government's actions with regard to Telstra and the National Broadband Network (NBN).

Your position on the various Bills required to amend the existing telecommunications legislation and setup the NBN Co will be extremely important in determining what happens to my investment and the investments of the other 1.4 million Telstra shareholders.

Existing Telstra shareholders, particularly those who bought in the public offers, paid for the value inherent in a large, vertically integrated telecommunications company. The Government as the issuer marketed Telstra to the public, in terms of its large size and integration.

Through the forced structural separation, the Government is effectively stripping Telstra of a significant part of its value. It proposes to re-package that same value into the public/private NBN Co, which will eventually be fully privatised. As a result, value paid for by Telstra shareholders will be re-sold to other investors.

The Government has continued to widen the framework for the NBN, and despite assurances that it would provide wholesale services only; the legislation provides Government discretion to allow the NBN to provide services to Government.

Private investment in the NBN Co means that there will always be pressure for its operators to grow the business and provide returns to investors. There will be inevitable pressure for it to expand operations into areas outside the wholesale operation of the network. In short, unless contained now, the NBN will become exactly the type of entity the Government is trying to stop Telstra from becoming by forcing the structural separation.

I strongly urge you to consider voting against the passing of the various Bills which provide the legislative framework for the NBN, which will have a very significant and negative impact on the value of Telstra shares and in turn the retirement and other investments of so many Australians.

Yours sincerely,