Macquarie's Utah mini-NBN in doubt

By Staff Reporter

According to the newspaper, Macquarie is still in talks with the Utah Telecommunication Open ­Infrastructure Agency (UTOPIA) to finance and finish building the $US300 million ($321m) open-access network, which is described as a mini-NBN.

Macquarie Group's first telecommunications public-private partnership (PPP) in the US is being held up by political hurdles, with businesses and residents in Utah divided over the merit of the proposal, The Australian Financial Review reports.

The AFR reports the mayors of the cities in favour of the project are looking for alternative ways to gain a consensus for the project, which is set to cost every household between $US18 and $US20 a month, regardless of whether the property uses the network or not.

Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report.

Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website.

Six of 11 Utah cities supporting the venture are calling for citizens to vote on its future in November, however, the state's election director has deemed a referendum on the project illegal.

Read more here: Business Spectator


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