Telecom NZ shareholders approve structural separation plan

News Broadband New Zealand 26 OKT 2011
Telecom NZ shareholders approve structural separation plan
99.8 Percent of Telecom New Zealand shareholders have voted in favour of the company's structural separation plan. Subject to the receipt of final court orders, Telecom will now separate its fixed-line access infrastructure business, Chorus, to enable Chorus to take a leading role in the government's Ultra-fast Broadband (UFB) initiative. The demerger is expected to be completed by 30 November.

Categories:

Fixed

Companies:

Spark New Zealand,  Chorus

Countries:

New Zealand

Tags:

Corporate

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