Telecom has lost an appeal against a court ruling that
resulted in it being slapped with a $12 million penalty for
using its market dominance to kneecap competitors a decade
Telecom remained on track to deliver a second-half operating
profit of about $560 million, acting chief executive Chris
Quin said yesterday.
Telecom said it plans to de-list its shares from the New York
Stock Exchange (NYSE) and to re-list them on the Amercian
over the counter (OTC) market to save costs.
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.
Telecom has appointed Auckland International Airport chief
executive Simon Moutter as its new CEO and managing director.
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
More than 100 primary schools in Otago have begun their
school year with a stock of new library books donated by
Telecom and Scholastic.
A period of relative calm awaits Telecom in 2012, Craigs
Investment Partners broker Chris Timms says.
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
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