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 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.
The Telecom demerger and company split begins today on the Australian stock exchange and on the New Zealand exchange on Wednesday.
The world's largest asset management company, United States-based Black Rock, has grabbed a 5%, $250 million stake in Telecom after 16 of its global subsidiary companies purchased shares recently.
Telecom has admitted breaching the Fair Trading Act after misleading customers about the amount of broadband they used.
Telecom is appealing a ruling that saw it slapped with a massive $12 million fine last year for breaching the Commerce Act.
Telecom did nothing to scare the markets when it released its demerger documents earlier this week. The vote to separate New Telecom and New Chorus seems a sure thing. Business editor Dene Mackenzie talks to analysts about the prospects for the two companies.
Professional director and former corporate lawyer Mark Verbiest will take over as chairman of Telecom when the separation of the company is completed.
Telecom yesterday followed the lead of past governments by releasing big news at the start of a major event, almost ensuring it will go unnoticed by the majority of shareholders.
Telecom chief executive Paul Reynolds was paid $5.1 million in the year to June, the company said today.
Telecom has risen to the recent challenge by NZX chief executive Mark Weldon to include more women on boards of listed companies by appointing three to the board of New Chorus.
Telecom investors appeared spooked by announcements coming out yesterday regarding the change of leadership, separation details, the shares going ex-dividend and a credit rating update.
Telecom's chief executive Paul Reynolds will leave the company in 2012, the telco confirmed today.
The Government yesterday gave Telecom approval to split its assets after structural separation, described by Communications Minister Steven Joyce as the first major step in the proposed demerger process.
Telecom has pulled out of its "no sex over the rugby World Cup" campaign, saying it had misjudged public reaction.
In an increasing trend for reporting companies this season, Telecom yesterday adjusted its profit to make it seem better than it was in the year ended June.
Telecom, which plans to carve itself in two to tap government funding for a national broadband network, wrote down the value of its ageing copper lines by $257 million, more than halving the company's annual profit.