Sunday, May 23, 2010

Telecom shares take a dive as talks of separation continue

Shares in New Zealand's largest telecommunications firm, Telecom, fell to a new low today as talks of possible corporate breakups continue. That, combined with continued problems regarding the company's new XT Network, and a number of other issues continue to plague the company as it attempts to reinvent itself in the eyes of consumers after a number of PR fallouts.

Telecom CEO, Paul Reynolds, said that the company was focused on aligning the goals and interests of the company with that of New Zealanders, the Government and investors.
"In making a thorough assessment of structural separation we need to have a detailed understanding of the regulatory environment, and this warrants detailed discussion and analysis with Government before any decisions regarding its viability can be made," he said.
"Clearly potential partners are working hard to put their best foot forward", he said.
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