Essay by archie31 June 2004

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I have recently come across this marvelous run-down of the two up coming economic giants, which was emailed to me from an anonymous address at the New Zealand Stock Exchange.

The economic giant Telecom became a force in 1987 when it took over the telecommunications department of the New Zealand Post Office and became a state-owned operation with a commercial focus. Instead of keeping the enterprise the government sold it to the Bell Atlantic Corporation for 4 and ¼ million NZ$ (a decision that Rt Hon Michael Moore must be regretting now) and a year later Telecom was listed on the New Zealand, Australian and New York stock exchanges. Everything was quiet until 1996 when it launched XTRA and became the most popular Web Portal in New Zealand.

        After setting up a monopoly in New Zealand Telecom ventured into Australia by buying ¾ AAPT in 1996 and then purchasing the rest in December 2000.

From this starting point Telecom has grown in Australia and reported that it holds 2,055 employees and maintains 904,681 landlines along with 55,800 internet connections across the ditch.

The NZ$8,972 million that Telecom has claimed as assets generates NZ$5,646 million revenue and 643 million dollars of this is net earnings which makes the company a very healthy investment by Bell Atlantic Corporation which currently holds 22.78% as of 30 June 2001

        The capital goods that Telecom have claimed to be worth $8,972,000,000 range from its fiber optic cables that cross the Pacific and Tasman oceans and the wire that we use every day while calling friends and family. This technology is extremely important to telecom as if it didn't have these it would have no chance against it's competitors.


Name:                                 Telecom Corporation of New Zealand

Location:         Throughout New Zealand ands parts...