Optus said in a statement today that it would be making the change in order to "reflect the maturing mobile market and the changing needs of Australian consumers.”

Telstra announced that under its new agreement Boost will market its Boost Mobile branded products on the Telstra Next G network from early next year.

Telstra Innovation Products and Marketing Group Managing Director Kate McKenzie said "Boost would enable Telstra to further extend its reach into the youth segment."

“Boost has captured a significant share of this segment over the past 12 years”, she said.

"Boost has built a successful business model and a loyal customer base. Importantly, customers who purchased Boost branded products can continue to receive great service and value for money under our new alliance when it begins next year," McKenzie said.

Telstra had a busy day as it also announced it had acquired Adam Internet, which will see Telstra acquire all of Adam's business including Adam's Adelaide data centre and fibre assets.