Telecom Corporation of New Zealand (TEL)

Shares / Stock Code

TEL

Stock Exchange / Sharemarket

ax

Telecom Corporation of New Zealand (TEL) is the principal supplier of information technology and telecommunications services in New Zealand and in Australia. The services this company provides range from local, national to international cellular, leased circuits, directories, paging, data communications, mobile radio and telecommunications equipment distribution. TEL was listed on the Australian Stock Exchange on the 15th of August 1994. Its average annual revenue reaches approximately NZ$5 million. Its headquarters is located in Wellington, New Zealand and to date; around 8000 people are employed in the company. Telecom Corporation of New Zealand operates mainly in four business segments: NZ consumer, NZ technology and enterprises, NZ business and Australian operations.

The NZ consumer segment of Telecom Corporation of New Zealand provides the residential customers in New Zealand with mobile, calling, data and internet products while the NZ technology and enterprises is in charge of the company’s network, shared service and IT capability across New Zealand. It also provides services delivery to the company’s wholesale customers. For the business clients, the NZ business segment is in charge of the provision of telecommunications services.

The Australian operation segment of Telecom Corporation of New Zealand is in charge of providing telecommunications services to both business and residential customers in Australia. This segment is comprised of small consumer enterprises, corporate and business, PowerTel, Gen-j Australia, technology-shared services, support functions as well as wholesale services.

Aside from the above segments, TEL also offers software solutions, business applications, IT services, outsourcing, security services, contact centre, procurement services, and data centre services.

Telecom Corporation of New Zealand Limited (TEL) Company History

The company was founded by the Government of New Zealand in 1987 to acquire businesses for telecommunications of the post office of New Zealand. In 1990, the company was purchased by US-based telecommunications companies, which were Ameritech and Bell Atlantic. The company was listed on the Australian, New Zealand, and Stock exchanges in New York in 1991. Five years after, the company developed a cable television network throughout Wellington and Auckland, the first media company that the company made was named First Television. The company launched a provider of Internet Service, Xtra in 1996. The company merged with other companies two years after to operate a cable network of Trans-Pacific.

In 1999, Telecom New Zealand got into the market of Australia by obtaining 78 percent in AAPT, the third largest telecom company in Australia. After that, they launched an internet service, JetStream, which is an ADSL technology-based.

The company joined forces with Microsoft New Zealand and EDS New Zealand to develop ecommerce products in the year 2000. The company obtained a stake of 19.9 percent in a company that was founded to operate and construct the 3G mobile, Hutchison 3G Australia, in 2001 in Australia.

TCNZ and Samsung launched mobile phone of WorldMode CDMA/GSM after they have merged in September of 2006; the project was to provide global roaming. Then a few days later, the Telecom Samoa Cellular to Digicel purchased 90 percent of the company’s shareholdings.