It is "separation day" today for Telecom NZ, as the New Zealand Communications and Information Technology Minister announces his approval of the company's plan to split itself into three operational segments.
Communications Minister David Cunliffe said today the Government would stick by its plan for a three-way operational split of Telecom NZ.
New Zealand's dominant telco will voluntarily separate its wholesale and retail operations in a move seen as attempting to stave off further government intervention in the country's telecommunications industry.
Telecom New Zealand has described a government proposal for its operational separation as unworkable and overly complex.
A US-based private investment firm with a stake of around 3 per cent in Telecom New Zealand has nominated two candidates to stand for election as directors of the telco as the firm pushes for internal change.
Tis the season to be jolly, to give, to receive, to have a sherry or two and fall asleep in front of the telly. And, if you're a mobile network operator, it's definitely the season to share.
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