Telecom's drop surprises analyst

Telecom shares dropped 4.5 cents today, as the Commerce Commission released its draft list of qualifying companies for the $50 million a year telecommunications development levy.

The telco's shares (NZX: TEL) opened at $2.54 and had eased to $2.495 this afternoon, on trading of more than four million shares worth $10.8 million.

 

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