The Australian: NBN Co would not pass muster in the markets

NBN Co chief executive Mike Quigley recently gave a speech complaining about the degree of scrutiny to which his company is subject, such as Senate Estimates and the newly formed Joint Select Committee on the NBN.

But if he were leading a company seeking to raise $27 billion in equity funding from private sector investors, the scrutiny Quigley would face would make the existing processes look tame in comparison.

Indeed, Quigley's complaint suggests a useful thought-experiment. If an information memorandum for the NBN had landed on the desk of a private investor, and that investor were sufficiently interested to commence a due diligence process, what are the kinds of questions that Quigley would now be facing?

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