The Commerce Commission says it is to issue proceedings
alleging a failure by Telecom to provide a service to other
companies caused serious harm to competition in
telecommunications markets and reduced the financial
feasibility of unbundling local exchanges.
What a difference a year has made for Telecom. This time last
year, the Otago Daily Times reported the company's share
price had plunged to a new low of $1.90 as uncertainty about
the future structure of the once blue chip company set in.
Telecom New Zealand will split into two companies by the end
of 2011, after the announcement yesterday its network arm
Chorus will build nearly three-quarters of the Government's
ultra-fast broadband network.