Analysts say that in five years' time, nothing about Telecom will be recognisable except for the company logo and its brand.
The Government's Crown Fibre Holdings, set up to manage its $1.5 billion investment in ultrafast broadband over the next decade, is in talks with Telecom.
After a planned sale, Chorus would eventually become a private-public monopoly effectively under government control, able to set the rules about how it will deliver services and for how much. Other investors would also be able to buy in.
Chorus would own Telecom's copper and fibre network, replacing phone lines with fibre optic cable delivering ultrafast broadband.
Analysts believe that most New Zealanders are unaware of the pace and scope of change ahead.
"My impression is most people know there is something going on around fibre, but that is about it," IDC Research analyst Rosalie Nelson told the newspaper.
A large portion of Telecom would be gone following the sale of Chorus, and Telecom would need to fundamentally transform itself to survive in a world in which all telecommunications services will eventually be delivered over broadband.
