Telstra says it has not signed a deal with NBN Co., despite a report to the contrary of a $9 billion agreement.
The telco giant told the market this morning that negotiations with the Federal Government and NBN Co are in an “advanced state”.
It added: “the package of agreements has not been considered or agreed to by the Telstra board.”
“Telstra will immediately inform the market should definitive agreements be signed with NBN Co. and the Government.”
Also in NBN news, its chief Mike Quigley has told The Australian that there was a “bunch of stuff going on, some of which was proven corruption” during his time at Alcatel Lucent, but he “did nothing wrong.”
Dominique Strauss-Kahn, the former chief of the International Monetary Fund, reportedly told police he had diplomatic immunity when being questioned by police in New York last month about an alleged rape attempt.
Court papers reveal the 62-year-old told detectives that he had immunity and wanted to speak with someone from the French Consulate. Reuters says Strauss-Kahn does not have full diplomatic immunity, but immunity is limited to acts performed in his “official capacity”.
The Frenchman has not yet been replaced by the global lender.
The Australian sharemarket has opened higher this morning after similar leads from Wall Street, where investors recovered after yesterday’s plummet in reaction to sovereign debt problems in Europe.
The benchmark S&P/ASX200 index was up 21 points or 0.48% to 4500.9 at 12.00 AEST, while the Australian dollar was mostly flat at $US1.05c.
AMP shares gained 1.29% to $4.73, while Commonwealth Bank shares rose 1.36% to $49.93. NAB shares rose 0.99% to $24.50 as Westpac gained 0.93% to $21.30.
In the United States, the Dow Jones Industrial Average rose 64.25 points or 0.54% to 11,961.52.
Santos and American firm Magellan Petroleum are currently engaged in a tiff over a $15 million deposit that Magellan wants to regain control over, after a potential sale fell through.
While Magellan was going to buy a 40% interest in the Evans Shoal gas field, it could not fulfil certain conditions by a specific deadline.
“The Company does not accept Santos’ assertion in Santos’ press release of May 31, 2011 that “Santos will also retain a $15 million non-refundable deposit paid by Magellan” and regards the treatment of this sum as a matter to be resolved between the parties,” the company said in a statement.
“Given the discussions with Santos, the Company has elected to forbear upon its rights with regard to completing the final closing under the Securities Purchase Agreement dated August 5, 2010 between the Company and Young Energy Prize SA, as amended, and has reserved its rights under that Agreement.”
BlackBerry maker Research In Motion recorded a drop in profit to $US695 million, with revenue of $US4.9 billion, sending its shares down nearly 15% overnight.
The company also warned that new smartphone models until well after the back-to-school season is complete.
“The company is going into the abyss of a transition, and even if they get a new model, and it’s a new model on the old platform,” BGC Partners analyst Colin Gillis told Reuters.
RIM announced 13.2 million shipments in the quarter ending May 28, but this was under its own estimates. Despite shipping 500,000 PlayBook tablet devices, analysts say RIM has a lot of work to do to catch up to rivals.
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