Telstra Corporation Ltd downplayed reports indicating that it has finalised the finer details of the contract that embodies the giant telco's $9 billion agreement with NBN Co. that will aid in the full roll out of the federal-sponsored national broadband network.

In a statement addressed by Telstra to the Australian Securities Exchange (ASX) on Friday, the company labelled the report carried by The Australian as false and a deal with the implementing entity of the NBN has yet to be reached.

In its report, The Australian said that Telstra and NBN Co. have wrapped their discussions on the details of their 'partnership' and on their way to approve the 1700-page definitive agreement.

A similar story was also carried by The Australian Financial Review, which declared that both boards of Telstra and NBN Co. have agreed in principle on the provisions of the documents and are ready to endorse the agreement.

Also, the AFR said on its report that NBN Co. will guarantee the release of plans for the NBN project at least three years before each of the undertaking's commencement, which is a form of assurance for other telco players that Telstra will not have undue advantage.

The inclusion of such provision on the definitive agreement addresses the industry concerns that the dominant carrier may utilise its inside track on the 10-year NBN project in fine-tuning its marketing techniques, the report said.

However, top officials of the company maintain their silence on the swirling speculations, with Telstra chief executive David Thodey stating on Thursday that any comments he would issue about the deal would be deemed as inappropriate.

In a letter sent to ASX, Telstra said that "negotiations with NBN Co and the Government are in an advanced state, however the package of agreements has not been considered or agreed to by the Telstra Board."