Australia govt, Telstra agree on broadband project

Australia's government reached a deal with the country's biggest phone company, Telstra Corp, on Sunday, paving the way for Canberra's plan to develop a national broadband network worth up to $37 billion.

Australia's government reached a deal with the country's biggest phone company, Telstra Corp, on Sunday, paving the way for Canberra's plan to develop a national broadband network worth up to $37 billion.

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The deal is a major victory for Prime Minister Kevin Rudd who won power in 2007 with a promise to build a high-speed broadband network. The next general election is expected late this year.