Financial Times FT.com

Telecom Corp sets March break-up deadline

By Leora Moldofsky in Sydney

Published: September 26 2007 06:02 | Last updated: September 26 2007 17:41

Telecom Corp, New Zealand’s biggest listed company, must split into three operating divisions by early next year to boost competition and encourage high-speed internet services, the government said on Wednesday.

David Cunliffe, New Zealand’s communications minister, said the former state-owned monopoly had until the end of March 2008 to separate into wholesale, retail and network units.

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