NBN update plus our views on sale options and timing

This report analyzes NBN's HY19 financial results and the strategic implications of its current rollout progress. While revenue increased 46% year-on-year to $1.3bn, the growing number of Service Class 0 premises—now at 1.4 million—presents a significant risk to activation targets and an opportunity for 5G fixed wireless bypass. The brief also outlines five strategic sale scenarios for the Australian Government, forecasting that any divestment process will likely span several years and remain a key political issue through the next election cycle.