New Zealand rules on Telecom Corp split

NEW ZEALAND RULES ON TELECOM CORP SPLIT
[SOURCE: Financial Times, AUTHOR: Leora Moldofsky]
New Zealand’s government confirmed on Wednesday that Telecom Corp, the nation’s biggest listed company, must split into three operating divisions by early next year. David Cunliffe, communications minister, said Telecom, a former state-owned monopoly, has until the end of March 2008 to separate into wholesale, retail and networks units. The operational separation is designed to boost competition in New Zealand’s telecommunications sector and encourage high-speed Internet services. It builds on an earlier government directive requiring New Zealand’s biggest telephone company to give rivals such as TelstraClear, owned by Australia’s Telstra, greater access to its local loop - the copper wires that link telephone exchanges to customers - by later this year.
http://www.ft.com/cms/s/7a4ce11c-6bec-11dc-b6a0-0000779fd2ac.html
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