Macquarie defection hurts Terria funding

From
http://business.theage.com.au/macqua...0620-2u9p.html

THE battle for the $4.7 billion national broadband subsidy has been
dramatically reshaped by Macquarie Group's decision to scrap its own bid and
join team Telstra instead.

Macquarie had been seen as the most credible independent bidder in the
broadband network tender, outside of Telstra and the Terria telco
consortium, before its appointment as Telstra's bid adviser.

The appointment guarantees the company will "not be proceeding with a
separate bid to roll out and operate the NBN (national broadband network)".

ABN Amro telecommunications analyst Ian Martin said the withdrawal of
Macquarie would help Telstra because it "basically removes the other most
credible bidder in the pack".

"It kind of suggests they've abandoned the idea of running a stand-alone
network business," he said. "To make it economic you've got to be able to
migrate the voice (telephone call traffic) across, and you just can't do
that without Telstra."

Telstra chief financial officer John Stanhope said Macquarie would help
Telstra work through "the financial complexity of the nation's largest
infrastructure project since the Snowy Mountains scheme, particularly the
mix of public and private financing".

"We want to build the best possible network that will serve Australians for
decades to come, and we can benefit from Macquarie's expertise in financial
engineering and structuring financial relationships to make that happen," Mr
Stanhope said.

As well as advisory fees, the investment bank is likely to be handed the
lucrative task of arranging funding on Telstra's behalf for construction of
the multibillion-dollar network. But Macquarie will have no equity
investment in the network, a Telstra spokesman said.

Macquarie's announcement puts pressure on the Optus-led Terria group to fund
a viable rival bid to Telstra's, partly because Macquarie had previously
been in discussions with Terria about a joint bid. Optus government affairs
director Maha Krishnapillai said Macquarie's shift from Terria to Telstra
was "true to form", but insisted the bank was just "one option" Terria was
looking at for funding. "This has no impact on Terria - none whatsoever," Mr
Krishnapillai said.

But Mr Martin believed the "big hit" on banks this month would make it hard
for Terria to secure enough external funding for its bid.

"(Optus owner) SingTel's not interested - its marginal dollar's invested in
Asia - and Telecom NZ is not capable, and no one else in the group is
capable of this kind of investment," he said.

Only in your pathetic little pig ignorant drug crazed fantasyland.

Alan Poxington <wanker@iarseaustralia.com.au> wrote

> From
> http://business.theage.com.au/macqua...0620-2u9p.html

> THE battle for the $4.7 billion national broadband subsidy has been dramatically reshaped by Macquarie Group's
> decision to scrap its own bid and join team Telstra instead.

Nope.

> Macquarie had been seen as the most credible independent bidder in the broadband network tender, outside of Telstra
> and the Terria telco consortium, before its appointment as Telstra's bid adviser.

Wrong. It never amounted to a hill of beans.

> The appointment guarantees the company will "not be proceeding with a
> separate bid to roll out and operate the NBN (national broadband network)".

Because even those fools noticed what has happened to Babcock and Brown and
arent about to get shafted by the market as comprehensively as they have been.

> ABN Amro telecommunications analyst Ian Martin

Who has never ever had a fucking clue about anything at all, ever.

> said the withdrawal of Macquarie would help Telstra

Nope.

> because it "basically removes the other most credible bidder in the pack".

That has no relevance what so ever to who will make an offer thats
compliant with what the govt requires to get the $4.7B, fuckwit.

> "It kind of suggests they've abandoned the idea of running a stand-alone network business," he said.

Irrelevant to what the govt requires, fuckwit.

> "To make it economic you've got to be able to migrate the voice (telephone call traffic) across, and you just can't do
> that without Telstra."

Thanks for that completely superfluous proof that you have never ever had a fucking clue.

> Telstra chief financial officer John Stanhope said Macquarie would
> help Telstra work through "the financial complexity of the nation's
> largest infrastructure project since the Snowy Mountains scheme,

Bare faced lie. The phone system is MUCH bigger, fuckwit.

The airport structure is MUCH bigger, fuckwit.

> particularly the mix of public and private financing".

That aint up to Telstra, fuckwit.

> "We want to build the best possible network that will serve Australians for decades to come,

And the govt aint interested in what you want to do unless
you are prepared to pay for the whole thing yourself.

> and we can benefit from Macquarie's expertise in financial engineering

Wota fucking wanker.

> and structuring financial relationships

Wota fucking wanker.

> to make that happen," Mr Stanhope said.

Nope, what matters is what the govt requires to get their $4.7B, fuckwit.

> As well as advisory fees, the investment bank is likely to be handed the lucrative task of arranging funding on
> Telstra's behalf for construction of the multibillion-dollar network.

Not when they dont get it, fuckwit.

> But Macquarie will have no equity investment in the network, a Telstra spokesman said.

Funny that.

> Macquarie's announcement puts pressure on the Optus-led Terria group to fund a viable rival bid to Telstra's,

Nope, ALL they have to do is offer what the govt requires, fuckwit.

> partly because Macquarie had previously been in discussions with Terria about a joint bid.

Wrong, as always.

> Optus government affairs director Maha Krishnapillai said Macquarie's shift from Terria to Telstra was "true to form",

He's right.

> but insisted the bank was just "one option" Terria was looking at for funding.

Corse it always was.

> "This has no impact on Terria - none whatsoever," Mr Krishnapillai said.

He's right.

> But Mr Martin believed the "big hit" on banks this month would make it hard for Terria to secure enough external
> funding for its bid.

Its got nothing to do with the banks, fuckwit.

> "(Optus owner) SingTel's not interested -

Easy to claim, hell of a lot harder to actually substantiate that claim.

> its marginal dollar's invested in Asia

Bare faced pig ignorant lie.

> - and Telecom NZ is not capable, and no one else in
> the group is capable of this kind of investment," he said.

Pity about SingTel, fuckwit.

And who cares if it flys like a lead balloon anyway, its a complete waste of $10-15B.
Anyone with a clue realises that the current adsl2+ network is MUCH better value and
perfectly adequate for all except Murdoch's pay per view DVD quality or better business.
He's welcome to pay for that himself.

On Sun, 22 Jun 2008 04:54:11 +1000, Rod Speed wrote:

> Only in your pathetic little pig ignorant drug crazed fantasyland.
>
> Alan Poxington <wanker@iarseaustralia.com.au> wrote
>
>> From
>> http://business.theage.com.au/macqua...0620-2u9p.html
>
>> THE battle for the $4.7 billion national broadband subsidy has been dramatically reshaped by Macquarie Group's
>> decision to scrap its own bid and join team Telstra instead.
>
> Nope.
>
>> Macquarie had been seen as the most credible independent bidder in the broadband network tender, outside of Telstra
>> and the Terria telco consortium, before its appointment as Telstra's bid adviser.
>
> Wrong. It never amounted to a hill of beans.
>
>> The appointment guarantees the company will "not be proceeding with a
>> separate bid to roll out and operate the NBN (national broadband network)".
>
> Because even those fools noticed what has happened to Babcock and Brown and
> arent about to get shafted by the market as comprehensively as they have been.
>
>> ABN Amro telecommunications analyst Ian Martin
>
> Who has never ever had a fucking clue about anything at all, ever.
>
>> said the withdrawal of Macquarie would help Telstra
>
> Nope.
>
>> because it "basically removes the other most credible bidder in the pack".
>
> That has no relevance what so ever to who will make an offer thats
> compliant with what the govt requires to get the $4.7B, fuckwit.
>
>> "It kind of suggests they've abandoned the idea of running a stand-alone network business," he said.
>
> Irrelevant to what the govt requires, fuckwit.
>
>> "To make it economic you've got to be able to migrate the voice (telephone call traffic) across, and you just can't do
>> that without Telstra."
>
> Thanks for that completely superfluous proof that you have never ever had a fucking clue.
>
>> Telstra chief financial officer John Stanhope said Macquarie would
>> help Telstra work through "the financial complexity of the nation's
>> largest infrastructure project since the Snowy Mountains scheme,
>
> Bare faced lie. The phone system is MUCH bigger, fuckwit.

That came before the Snowy Mountains scheme.


> The airport structure is MUCH bigger, fuckwit.

And the airport structure isn't a "project".

Horry <horacewachope+usenet@gmail.com> wrote
> Rod Speed wrote

>> Only in your pathetic little pig ignorant drug crazed fantasyland.

>> Alan Poxington <wanker@iarseaustralia.com.au> wrote

>>> From
>>> http://business.theage.com.au/macqua...0620-2u9p.html

>>> THE battle for the $4.7 billion national broadband subsidy has been
>>> dramatically reshaped by Macquarie Group's decision to scrap its
>>> own bid and join team Telstra instead.

>> Nope.

>>> Macquarie had been seen as the most credible independent bidder in
>>> the broadband network tender, outside of Telstra and the Terria
>>> telco consortium, before its appointment as Telstra's bid adviser.

>> Wrong. It never amounted to a hill of beans.

>>> The appointment guarantees the company will "not be proceeding with
>>> a separate bid to roll out and operate the NBN (national broadband network)".

>> Because even those fools noticed what has happened to Babcock and Brown and
>> arent about to get shafted by the market as comprehensively as they have been.

>>> ABN Amro telecommunications analyst Ian Martin

>> Who has never ever had a fucking clue about anything at all, ever.

>>> said the withdrawal of Macquarie would help Telstra

>> Nope.

>>> because it "basically removes the other most credible bidder in the pack".

>> That has no relevance what so ever to who will make an offer thats
>> compliant with what the govt requires to get the $4.7B, fuckwit.

>>> "It kind of suggests they've abandoned the idea of running a
>>> stand-alone network business," he said.

>> Irrelevant to what the govt requires, fuckwit.

>>> "To make it economic you've got to be able to migrate the voice
>>> (telephone call traffic) across, and you just can't do that without Telstra."

>> Thanks for that completely superfluous proof that you have never
>> ever had a fucking clue.

>>> Telstra chief financial officer John Stanhope said Macquarie would
>>> help Telstra work through "the financial complexity of the nation's
>>> largest infrastructure project since the Snowy Mountains scheme,

>> Bare faced lie. The phone system is MUCH bigger, fuckwit.

> That came before the Snowy Mountains scheme.

Nope, not the digitisation of the exchanges, the mobile system and broadband in spades.

>> The airport structure is MUCH bigger, fuckwit.

> And the airport structure isn't a "project".

Mindlessly silly.