JP Morgan: NBN needs $20b write-down

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By Leith van Onselen

Last year, S&P Global Ratings released a report arguing that a write-down of the National Broadband Network (NBN) “appears inevitable” in order to reduce the cost at which it sells broadband capacity to telcos.

The Australian Competition & Consumer Commission’s (ACCC) has also called for the Federal Government to write down the value of the NBN in order to narrow the gap between the amount NBN Co receives from retail ISPs each month and the actual cost incurred by NBN Co.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.