Tasmania (covering their respective states only), a non-compliant proposal was received from Telstra and they were excluded from consideration. There were suggestions that if the project were to go ahead, Telstra's exclusion could lead to them being entitled to compensation estimated at . Bidders who lodged compliant proposals were neither able to meet the government's requirements nor able to raise the necessary capital during the global financial crisis, the RFP was terminated on . 2009 After terminating its initial RFP, the Rudd Government announced it would bypass the existing copper network by constructing a new national network combining fibre to the premises (FTTP), fixed wireless and satellite technologies. The FTTP rollout was planned to reach approximately 93% of premises in Australia by . For each percentage point of coverage above 93%, FTTP build costs become prohibitive because of a low population density. However, the FTTP footprint could be expanded where users or communities were willing to pay the incremental costs of installing FTTP. The FTTP rollout was to gradually replace the copper network then owned by Telstra and used for most telephone and data services. As part of an agreement with NBN Co, Telstra was to move its customers to the NBN, and lease space in its telephone exchanges and access to its extensive network ducting. Tasmania was selected for a trial deployment based on the Tasmanian Government's submission to the RFP. At the same time, the federal government threatened to force a structural separation of Telstra. Initial expected cost and payback The Rudd Government estimated to the capital expenditure of the project initially to be . NBN Co later revised down the cost in its business plan to . The project was to be financed by a combination of a Federal Government investment of and private investment for the remainder. NBN Co intends to begin paying dividends back to the Federal Government in 2021, and to have fully repaid the Government's contribution by 2034. NBN Co's business plan forecasts a return on investment of 7.1%, expecting to turnover revenue of by 2021. NBN Co set up NBN Co was established on . Mike Quigley was appointed chief executive officer on . 2010 An implementation study was commissioned in and released on by the Rudd Government. McKinsey & Company and KPMG concluded the NBN can be implemented and made 84 recommendations in the study, including expanding the fibre footprint to