It's clearly a strategy -- Trujillo has said from his first day in Australia that regulation is a prime focus, he's adopted a confrontational style and both he and the government are playing hardball.

We were certainly forecasting a difficult period for Telstra but this is slightly worse than what we were expecting.

The ceremony was one of the largest events in the town's history.

If nothing [regulatory] changes then Telstra will continue to have significant problems.

There's no surprise that the independent directors will recommend the proposal. I think the (reincorporation) will be approved.

It won't get anywhere near 5.00 dollars in the medium-term, which leaves the government in a bind.

From an Australian perspective I'll be sorry to see News Corp. go. I'll be interested to see the company's commitment to Australia in five years time.

The market is clearly concerned about the slowing trend in sales growth for almost all of the divisions.