NBN Co signs Goldman Sachs, Gov wants advisor too
- 05 January, 2010 09:59
- Comments 6
NBN Co has signed Goldman Sachs as an advisor to its negotiations with Telstra. Pictured: NBN Co chief executive Mike Quigley.
The company charged with rolling out the National Broadband Network (NBN) has appointed Goldman Sachs as an advisor for its negotiations with Telstra (ASX:TLS).
In December, Telstra, the Federal Government and NBN Co made a joint announcement that the two companies had agreed to Terms of Engagement in their discussions on the NBN with negotiations to continue.
Telstra also said it will upgrade its network to fibre in the Melbourne suburb of Point Cook as a trial and provide resultant data to NBN Co.
The Federal Government is now also looking for an independent advisor to assist with any commercial agreement NBN Co reaches and has opened a tender process.
However, tender documents that outline the role and responsibilities of the required independent expert advisor are only available under a Deed of Confidentiality. Likewise no information was provided on the potential value of any contracts offered in the tender process.
In a separate tender launched this week, the Department of Broadband, Communications and the Digital Economy (DBCDE) said it is looking for a company to provide "Technical Advice and Analysis Services" for the Regional Backbone Blackspots Program.
In late December the Federal Government also released draft amendments to Telecommunications legislation that aims to enable the deployment of optic fibre into greenfields estates that receive approval from July 1, 2010.
The draft legislation – available on the Department of Broadband, Communications and the Digital Economy website – is titled Telecommunications Legislation Amendment (Fibre Deployment) Act 2010 and is the result of a consultation process undertaken earlier in the year.
It proposes several changes to the Telecommunications Act 1997, and the introduction of a new section that says, “If a real estate development project is specified in a legislative instrument made by the Minister, a person must not install a line in the project area unless the line is an optical fibre line”.
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james
Yet another waste of taxpayer's money. I would suggest if the CEO of NBN Co doesn't know how to negotiate, maybe the govt can appoint another CEO. Remember folks that the NBN is funded by the taxpayer and every dollar which is wasted on 'consultants' is a dollar less for the project. What next ?the CEO of NBN Co needing an advisor to help with choosing the type of toilet paper to use in their offices?
jim
They'll need to find an advisor to advise Conroy on how to do his Job, then they'll get a consultant in to decyper what conroy wants to then lay out the plans. Then the plans will be given to a group of consultants who would then pass the information to advisors of NBN, which would then hire more consultants to put together another more readable plan and resubmit it to the advisors.
Yet not a single dollar is used to hire a optical fibre expert as yet. I thought my telecom eng degree was useful, but 2 and a half years in, and still not a cable is placed on the ground.
Labour is going to be punished hard for this.
Alex
For the average person who is not an expert in such projects, $3,000,000 (as an example) is a lot of money and cannot be justified, but when you look at $43,000,000,000, this number is very small. You cannot compare advisor costs to your own personal income :)
80% of a projects success is in its planning, strategy and analysis. Instead of fuelling an anti-government attitude, why not spend some time learning about what NBN is and what it involves, and then perhaps you will understand how big it is, and the 50-100 years of benefit it can bring to you, your children, your children's children and probably your children's children's children!!!
EUGENE TANO
MILLIONS HAVE BEEN SPENT BY THE LABOR GOVERNMENT FIGHTING TELSTRA AND ALL THIS WASTED MONEY COULD HAVE BEEN USED TO LAY CABLE IN THE MAINLAND. GET REAL TELSTRA IS THE ONLY COMPANY ABLE TO DO THE NBN RIGHT AND AT THE LOWEST COST. THE GOVERNMENT SHOULD STOP PLAYING GAMES WITH TAXPAYES MONEY AND JUST LET THE PROFESSIONALS GET THE JOB DONE,,-----.
gnome
You must be from Telstra, Eugene, since it took you five months to think of that. And stop shouting.
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