Retail telcos will be barred from owning more than 50% of one of the government’s proposed 25 Local Fibre Companies (LFCs), the public-private companies that would bring fibre-to-the-premises under Steve Joyce’s $1.5 billion broadband plan.

“Retail telcos cannot be a majority partner in an LFC ,” says Forsyth Barr senior analyst Guy Hallwright, “so that is going to act as a significant constraint on Telecom’s plans”.

Get ready for Her Majesty's broadband. The Crown Fibre Investment Co (CFIC), proposed by the government this morning as the vehicle to drive its $1.5 billion in spending on fibre, would hold “A shares” for 10 years in each of up to 25 local fibre companies, and each private partner "B shares".