Optus has signed a binding agreement with NBN Co to progressively migrate its HFC broadband network, along with its customers, onto the National Broadband Network (NBN).
The deal is worth $800 million.
Telstra today finalised the $11 billion deal with NBN Co to migrate its copper and HFC network customers onto the NBN and decommission the networks over a 10 year period.
Similarly, Optus will decommission parts of its HFC network that do not provide ongoing support for mobile infrastructure and business customers.
Both agreements aim to boost the take-up rate of the NBN, according to NBN Co CEO, Mike Quigley.
“NBN Co agrees to make progressive payments to Optus based on the actual number of customers that migrate from its HFC network to the NBN,” NBN Co said in a statement.
This deal has boosted NBN Co’s internal rate of return when compared to the company’s Corporate Plan released last year.