Telstra Shareholders to Approve NBN

MELBOURNE, Australia -- Based on the proxy and direct voting position presented at Telstra’s annual general meeting which is under way today, it is clear Telstra shareholders will approve Telstra’s participation in the roll out of the National Broadband Network (NBN).

The resolution on the NBN has received the support of 99 percent of shareholders who have voted or lodged a proxy. The final results of the poll on this item will be available later today.

Telstra Chairman Catherine Livingstone said the Directors’ recommendation that Telstra participate in the NBN rollout by implementing the Definitive Agreements signed in June 2011 had received strong endorsement from shareholders.

Telstra Corp. Ltd. (ASX: TLS; NZK: TLS)