Sharechat Logo

Telecom tries to rescue battered share price

By Ray Lilley

Friday 13th October 2000

Text too small?
Theresa Gattung
Telecom executives used the annual meeting yesterday to attempt to buoy up its share price from an 18-month low.

In her first address as chief executive, Theresa Gattung lauded Australia as the highlight of the past year, with the purchase of telecommunications company AAPT and the deal securing the $A500 million five-year Commonwealth Bank telco contract.

Ms Gattung said she expected the full purchase of AAPT to be completed by next month.

She pointed to the launch of the new CDMA mobile phone network by mid next year as giving New Zealand's love affair with mobile phones "a shot of adrenalin."

Investors quietly hoped the same would happen to the sagging share price, although reduced dividend payouts were not expected to recover quickly either way.

Ms Gattung said CDMA, with higher data speeds, handsets with bigger screens and a range of new services will be driven "hardest and fastest" by a youth market which sees mobile connectivity as central to their lifestyle and identity.

The recently completed interconnection deals with Clear, Telstra Saturn and Vodafone showed the local industry could resolve differences without regulatory intervention, Ms Gattung said.

  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:

Sky continues sports drive with extension to netball rights
Apple's asset-shuffling puts $270m value on PowerbyProxi
Fonterra lifts payout forecast on improving global dairy prices
22nd October 2019 Morning Report
NZ dollar hovers near 64 US cents in favourable risk environment
Broader review powers eyed for Climate Change Commission
MARKET CLOSE: NZ shares edge lower as global ructions weigh; Tourism Holdings sinks
NZ dollar rises as markets bet on US interest rate cut
Fonterra seeks further changes to dairy act
Tilt, Oji say transmission changes may discourage new generation

IRG See IRG research reports