Telecom slides as investors await Moutter's plan

Telecom shares (NZX: TEL) slid for a second day, dropping 5% this morning, as investors wait to hear of the company's ambitious new direction.

Having started the day at $2.52, by 1.10pm the price had slipped 12.5 cents, on trading of more than 28.8 million shares, worth $72 million.

The company's market capitalisation has dropped a further $230 million today, to $4.45 billion.

 

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