Telecom NZ Committed To Growth In Australia

Monday, 26 March 2001, 4:38 pm
Press Release: Telecom New Zealand

TELECOM NEW ZEALAND COMMITTED TO GROWTH IN AUSTRALIA

Telecom New Zealand will continue to develop its business presence in Australia, and to assess opportunities for growth through acquisition and alliances.

Chief Executive Theresa Gattung said Telecom had been interested in Cable & Wireless Optus but only at the right price. “We will only ever participate in transactions that enhance value for the shareholders of Telecom,” Ms Gattung said.

“Telecom continues to be well positioned to benefit from the anticipated rationalisation of telecommunications in Australia,” she said.

Telecom continues to press ahead with the development of its Australian local, long-distance, mobile and IP operations, providing services to major Australian corporates such as the Commonwealth Bank of Australia, and with its trans-Tasman internet business.

ENDS

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