Sharechat Logo

Just-listed GDC in phone deal

By Aimee McClinchy

Friday 26th May 2000

Text too small?
In a move set to shake up the phone market newly listed GDC Communications has signed a major deal with French phone giant Alcatel to distribute its call management office products here.

The move will cause a market stir as GDC Communications brings Alcatel's phones into direct competition with its other phone suppliers, Ericsson, Siemens and NEC, who hold the lion's share of the market.

Alcatel has a distributor, Commspec, but has now done a national deal with GDC in a bid to grab a more significant market share.

Locally owned telco GDC made an IPO last month and listed on April 26 on the main board of the Stock Exchange at $1.85, up 35c on the issue price.

Its shares were trading at $2.12 yesterday morning.

GDC Communications will not reveal how much it expects the Alcatel deal to deliver a year in sales but it is said to be worth millions.

Alcatel has spent billions in a two-year acquisition programme around the globe and reported sales of $45.1 billion and net income of $1.2 billion last year. Its shares are trading at $US44.5 on the New York Stock Exchange.

Asia and Asia Pacific accounted for 6.9% of its net sales in the first quarter the year, a percentage the company is banking on rapidly increasing.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

19th June 2019 Morning Report
NZ dollar firms on signs US-China trade talks moving forward
Dairy product prices slump for third consecutive time
Chevron, Equinor depart NZ exploration scene
MARKET CLOSE: NZ shares gain as investors eye upcoming Fed meeting
Spark using 'free' rugby offer to lock out competitors, says 2Degrees
NZ dollar rises against the Aussie after RBA indicates further rate cuts
Gold Report 18th June 2019
Electricity Authority urged to test privacy status of meter data
Shorn Fonterra likely to keep ingredients business - Jarden

IRG See IRG research reports