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The Usual Friday Crud

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Friday, 5 May 2006

More on Telecom

Yup, it gets even more interesting (this is where Blogs break down, since you're going to read this before the main Telecom article... you should all use RSS feeds!), it turns out that the Govt wasn't going to announce the Telecom news until budget time, but someone (in cabnet or their staff) leaked a memo to TELECOM just this week. News of this got out, Govt announce and the NZSX (NZ's pasty little stock exchange) plummeted, thanks to Telecom being, by far, the biggest player on the exchange. Oh yeah, and Telecom lost nearly $1billion in capital... (at about 50c loss per share!)

If the NZ Govt needs any more reasons to break up Telecom, how about the fact that if Telecom dips, they entire NZSX dips too. Break Telecom up an the NZSX isn't reliant on just one player...

NZ Herald as more and more and well... more

Telecom stock charted

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