Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Telecom Indicates Interest In CWO

Fri, 15 Dec 2000

Telecom Indicates Interest In Cable & Wireless Optus

Telecom said today it had formally indicated interest in participating in the restructuring of Cable & Wireless Optus (CWO) in Australia.

Chief Executive Theresa Gattung said Telecom continued to explore various opportunities for expansion in the Australian market and in this context, had responded to requests from advisers to Cable & Wireless Plc and CWO.

“Telecom is primarily interested in Optus Mobile although we recognise that any transaction we might undertake would need to be part of the overall restructuring of CWO,” she said.

Ms Gattung said such a restructuring was likely to be complex and involve other parties as well as Telecom.

“We have a number of alternatives for structuring and financing any Telecom involvement with CWO,” she said. For obvious commercial reasons, Telecom would not disclose the indicative terms and conditions contained in its formal response to the advisers of Cable & Wireless Plc and CWO.

“Telecom sees the CWO situation as one of various opportunities for expansion as part of our broader Australasian strategy,” Ms Gattung said.

“We will pursue any transaction only if it is going to enhance value for Telecom shareholders,” she said.


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news