Telecom shares have risen 2 percent to $2.03 following the completion of its demerger from Chorus.
Chorus yesterday announced it had secured a $1.35 billion syndicated bank facility, which chief financial officer Andrew Carroll said would allow the company to get on building its fibre network with greater funding certainty.
Chorus shares are trading at $3.29, up from a listing price of $2.94 last week.
The Commerce Commission has published a list of Chorus' wholesale customers, which can be found here.
Telecom has also confirmed the appointment of its new chairman and board members.
Chairman Mark Verbiest is joined on the board by new appointees Charles Sitch, Justine
Smyth, Maury Leyland and Paul Berriman. Murray Horn, Kevin Roberts and
Paul Reynolds will remain on the Telecom board.
Wayne Boyd, Ron Spithill and Sue Sheldon have stepped down from Telecom’s board, with Sheldon taking up a role as chair of Chorus.
“We can now look forward to two fresh and dynamic companies each having their role to play in the delivery of world class telecommunications throughout New Zealand," Telecom chief executive Paul Reynolds said.
Idealog has been covering the most interesting people, businesses and issues from the fields of innovation, design, technology and urban development for over 12 years. And we're asking for your support so we can keep telling those stories, inspire more entrepreneurs to start their own businesses and keep pushing New Zealand forward. Give over $5 a month and you will not only be supporting New Zealand innovation, but you’ll also receive a print subscription and a copy of the new book by David Downs and Dr. Michelle Dickinson, No. 8 Recharged (while stocks last).
Idealog is part of ICG. We work with clients like Woolworths New Zealand, All Good, Huffer, Liquorland, Resene, Citta Design, TVNZ, Spark and FCB on their event activations, in-store, in-office or out-of-home signage, content creation and vehicle wraps.