Telecom shares hit fresh low
Telecom shares (NZX: TEL) hit a fresh low yesterday, closing at $2.19.
The company traded at above $4 at the start of chief executive Paul Reynolds’ reign in 2007.
Since then, the company has been hit by regulatory changes such as operational separation and local loop unbundling, which have opened it to fresh competition just as its once-lucrative fixed-line business evapourates, and its shares have moved gradually downwards.
The trigger for its most recent fall has been XT’s string of network failures.
Before the January 27-29 outage, the company was trading at $2.44.
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Comments and questions4
time's almost up Dr Reynolds.
how is he supposed to combat government regulations?
Idiot
[It's not easy, but Dr Reynolds' executive role at BT gave him experience dealing with government and regulators - CK]
I'm actually tired of this beat up on XT.. A lot of people are talking it up and in doing so are talking down their superannuation savings... think about it for 5 seconds
Telecom XT was in our face as world class network what else do they expect when the Telecom XT network is 4th world class network its a joke
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