Telstra Loses $6bn in NBN Hit

The investment community delivered a savage vote of no confidence in the management of Telstra yesterday after the telco was dramatically kicked out of the tender for the federal Government’s $15 billion national broadband network. The move, which casts doubt over Telstra’s future earnings and profit margins, came as tensions emerged between the company’s board and management, as almost $6 billion was wiped off the company’s market value yesterday