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Telecom NZ reviewing ministry's notes on separation

Telecom NZ reviewing ministry's notes on separation

Telecom NZ (ASX:TEL) said it was reviewing a discussion paper from New Zealand's Ministry of Economic Development (MED) about plans to structurally separate the company.

Telecom NZ has proposed to separate its wholesale and retail divisions as part of its bid to participate in the government's NZ$1.5 billion ($1.1 billion) Ultrafast Broadband fibre project.

“There remains a long way to go in the UFB tender process and finding a solution for UFB that achieves the government's objectives while also being sustainable and economic is challenging,” Telecom NZ CEO Paul Reynolds said.

“It will also be complex and challenging to arrive at a solution that will receive the necessary support of Telecom shareholders.”

Crown Fibre Holdings, the entity set up to conduct the rollout, recently excluded Telecom NZ from priority negotiations over the first round of the project.

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Tags ASX:TELTelecom NZTelecommunicationsPaul Reynolds

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