Telstra's broadband rival suffers blow

Telstra Corporation's main rival in the bid to join the federal government in
building a national broadband network (NBN), Terria, has had a second stakeholder
withdraw in just over a week.
Telecommunications company Soul, previously known as SP Telemedia Ltd, announced its
withdrawal from the Terria consortium late Friday.
Terria was made up of nine telecommunications companies, led by the country's second
largest telco Optus.
However, AAPT withdrew from the group on October 16 and the consortium is now down
to seven members after Soul's withdrawal.
Terria chairman Michael Egan said the development was understandable following
Soul's merger with internet service provider TPG Holdings Ltd in April.
"TPG inherited its interest in Terria via its acquisition of Soul earlier this
year," Mr Egan said.
"Since that time, Soul has not been an active or contributing member of the consortium.
"Accordingly, their announcement today formalises what has been reality for a number
of months."
Soul's departure will not effect Terria's bid to build the NBN, Mr Egan said.
"Our bid team is finalising the plan for a crackerjack, ground-breaking, open
network for the benefit of all Australian consumers and businesses," he said,
The federal government has set a November 26 deadline for all bids.