The New Zealand government has approved Telecom New Zealand's plan to split its assets after structural separation. The company's asset allocation plan identifies how assets and liabilities will be split during Telecom's proposed demerger and the key terms of all intended material sharing arrangements. Under the plan, New Chorus will get the fibre and copper networks, and OSS/BSS systems for managing wholesale customers. New Telecom's key assets will include the mobile network, service platforms for voice and data applications, OSS/BSS for managing end-to-end services, sales distribution channels and brand, as well as investments in overseas assets such as AAPT and the 50 percent stake in the Southern Cross Cable. Telecom has proposed to structurally separate in order to be able to participate in the government's NZD 1.35 billion ultra-fast broadband (UFB) initiative. The Telecom demerger is subject to a shareholder vote later in the year.
