Telstra chief executive David Thodey attempted to reassure shareholders on Tuesday their interests are his main priority as separation discussions intensified with the Australian federal government.
Under legislation introduced to parliament a fortnight ago, Telstra faces the structural separation of its wholesale and retail businesses - by either voluntary or forcible means.
The proposal is aimed at creating a more level playing field ahead of the build-out of a high speed national broadband network.
In a letter sent to shareholders, Thodey and chairman Catherine Livingstone said the negotiations were being conducted in a positive and constructive manner.
"As we stated last week, we are disappointed the government has felt it necessary to introduce this legislation at a time of such fundamental change in the industry," Thodey said.
This legislation will mean a significant change to Telstra and the industry.
"We are continuing our negotiations with the government in a much more constructive and positive manner, but let us conclude by addressing a misconception that has been raised recently in the media," said Thodey.
"The board and management have always had, and will continue to have, the interests of shareholders as our over-riding priority," Thodey added.
Source:Xinhua
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