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China Daily | Updated: 2010-03-17 07:53

Telstra rises on delayed vote

Telstra Corp rose the most in six months in Sydney trading after a vote on legislation that may lead to a break up of the former Australian monopoly telephone company was delayed in the Senate.

Telstra climbed 2.3 percent to close at A$3.11 on the Australian Securities Exchange, after gaining as much as 3.6 percent, the most since Sept. 16. The benchmark S&P/ASX 200 Index added 0.3 percent. Communications Minister Stephen Conroy has been in talks with Telstra for six months to reach a split of its fixed-line network as his government seeks to spend A$43 billion ($39 billion) on the NBN Co high-speed Internet service.

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