Australia Says Telstra Must Rework Its Plans To Split

Law360, New York (August 30, 2011, 3:40 PM EDT) -- Australia's competition regulator suggested Tuesday that Telstra Corp. Ltd.'s proposed restructuring — part of a sweeping government-backed plan to create a national broadband network — will need a significant rewrite before it is finalized.

The Australian Competition and Consumer Commission said in a preliminary finding Tuesday that important changes are needed to Telstra's proposal to separate its wholesale and retail operations while preserving competition in the interim period while the national broadband network is being built.

"While the ACCC will move as quickly as possible towards...
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