Nonetheless, 99.45 per cent of proxy votes supported the deal.

This would have been music to the ears of Telstra board members who unanimously recommended for the deal to go ahead. Even independent expert, Grant Samuel, said the agreement was "approximately $4.7 billion greater than under the best available alternative."

So what does this mean for Telstra besides being able to breathe a small sigh of relief?

It means the business will now have a better financial outcome and regulatory stability.

Let's do a brief recap of the deal which was finalised in June: