The Commonwealth Bank of Australia (CBA) is thought to have renewed its AUD1bn ($709m) deal with the telecommunications firm Telstra. The companies, who signed a 10-year deal in 2009, are rumoured to have renewed the agreement for an initial three years with two optional one-year extensions. CBA has been under pressure from regulators and politicians over the deal, which was criticised by consumer groups as being too generous to Telstra after it emerged that some customers were charged more than they had agreed to.
The Commonwealth Bank of Australia (CBA) is thought to have renewed its AUD1bn ($709m) deal with the telecommunications firm Telstra. The companies, who signed a 10-year deal in 2009, are rumoured to have renewed the agreement for an initial three years with two optional one-year extensions. CBA is thought to be weighing up its options as it works out its network requirements for the rollout of Australia's National Broadband Network and the ongoing consumer shift towards mobile transactions.