The appointment of Simon Moutter as the new chief executive
of Telecom will have investors hoping for many happy returns
as Mr Moutter returns to an industry he knows well.
Otago-Southland businesses will be among the first to benefit
from the deal between Telecom and Enable to deliver
ultra-fast broadband (UFB) in Christchurch, Gen-i Southern
sales manager Peter Thomas says.
A newly-demerged Telecom reported an adjusted net profit of
$240 million for the first half to December 31, up 51
percent, and said it would buy back $300m worth of shares
this year.
The new chief executive of Telecom would need to follow the
lead set by Paul Reynolds of being open and honest to
shareholders, Craigs Investment Partners broker Chris Timms
said yesterday.
Telecom is to review its capital structure - having split
from its New Chorus network business last week - in order to
maintain a crucial "A-band" credit rating.
The shares of a split Telecom - into New Chorus and New
Telecom - debuted on the New Zealand stock exchange
yesterday, both trading well as investors topped up their
holdings.
