The share price of Telstra Corporation has made solid headway as the telecommunications leader announces a $500 million deal to outsource the maintenance of its billing systems.

The US-based firm EDS is to take over the maintenance and development of Telstra's billing activities and shared databases from the March 7.

The $500 million value of the contract is spread over five years.

Telstra expects to significantly cut costs associated with information technology.

It says all 750 staff affected by the outsourcing have been offered employment with EDS.

ABC

-- Anonymous, March 02, 2001