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

 

New Zealanders paying too much for mobile calls

9th June 2005

Hautaki says New Zealanders paying too much for mobile phone calls Statement by Hautaki Limited

Hautaki Limited, a 30% shareholder of Econet Wireless New Zealand Limited (Econet) has welcomed the release by the Commerce Commission on its mobile termination declaration and Argo TMC’s report into the competitiveness of New Zealand mobile phone services.

Bill Osborne, Chairman of Hautaki Limited, said “It is good to see that the Commerce Commission now concluding that New Zealanders are paying too much for mobile phone calls.

As investors, we would like to see an OECD-style regulatory environment so that we know our investment is not at risk from the power that the incumbents have built up through years of limited competition. Appropriate telecommunications regulation increases competition which increases price pressure. This is the case everywhere in the OECD, but it has never happened here in New Zealand.”

Hautaki Limited is continuing to support the entry by Econet Wireless into the marketplace. Mr. Osborne said “We’re confident that our investment will be a great strategic asset for Maori into the future, so long as the Telecommunications Commissioner follows normal OECD practice.”

Hautaki Limited is in a sound financial position with a 30% stake in Econet Wireless and our equity investment is secured. We confirm that good progress is being made albeit at a slower pace than originally anticipated. Now that Econet Wireless has successfully completed major capital raising we look forward to seeing further development of the network.

Hautaki remains confident that there is a strong business case for four players in New Zealand. Mr. Osborne said “We have no doubt that the joint venture with Econet Wireless will bear fruit, for Hautaki Limited and New Zealanders.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>

Elsewhere:

Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>