Red ink, but no undies at Conroy's auction

In their own way, each of the telcos declined Stephen Conroy’s invitation to wear red underpants at his spectrum sale. Their moves reveal more questionable federal budget forecasting.

"If I say to you, everyone in this room, if you want to bid in our spectrum auction you’d better wear red underpants on your head… I’ve got some news for you. You’ll be wearing them on your head."


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