Sonicwall Market Segment Skin 160x1200

Sonicwall Market Segment Skin 160x1200

iTWire TV 705x108notfunny

Tuesday, 22 October 2013 11:36

Update - Telecom NZ confirms AAPT for sale Featured

By

Telecom New Zealand has confirmed the widespread speculation that its Australian subsidiary AAPT is for sale.

It was the worst kept secret of the week. Now it’s official – Telecom New Zealand has released a statement to the Australian and New Zealand stock exchanges confirming it is considering the sale of AAPT

The statement was brief: “In response to media reports, Telecom NZ said today it is considering a possible sale of AAPT. No decision has been made whether or not to proceed.

“As previously announced, Telecom NZ is refining its business strategy to become a future-oriented, competitive provider of communication, entertainment and IT services delivered over its networks and the cloud. The AAPT considerations are consistent with this strategy.

“Telecom NZ will be making no further comment during these considerations.”

It says nothing and it says everything. The speculation and analysis is correct. Telecom NZ is rationalising, and AAPT is unlikely to be part of its future. TPG and Vodafone have been mentioned as potential buyers.

TPG would make sense, but as made no comment. Vodafone Australia CEO Bill Morrow said he had no plans, but told iTWire he would look at it if itmade sense – it could use the backhaul capacity. But he also said that a more sensible backhaul policy from the Government would make more sense.

Announcing Telecom NZ’s disappointing financial results in August, Chief Executive Simon Moutter said the company was charting its new course “in light of explosive growth in demand for data and mobility services, unprecedented change in the structure of the New Zealand industry, and the need to sort out complex business platforms, legacy products and high operating costs.”

It is unlikely Telecom NZ will get more than $400 million for AAPT, after holding out for much more in recent years. AAPT contributed just NZ$74 million of its NZ$1043 million earnings (EBITDA). This figure was down by NZ$10 million over the previous year.

Telecom NZ’s Gen-I subsidiary withdrew from the Australia market during the year, with the remaining Trans-Tasman business transferred to AAPT.

Moutter said Telecom NZ needed to take swift and bold action during the year to become more competitive and reduce costs. They company has cut its workforce by over a thousand staff during the year. As at 30 June 2013, Telecom NZ had a total of 6,622 full-time equivalent employees, a reduction of 16.2% from the beginning of the year and of 12.1% from 31 December 2012.

Read 3504 times

Please join our community here and become a VIP.

Subscribe to ITWIRE UPDATE Newsletter here
JOIN our iTWireTV our YouTube Community here
BACK TO LATEST NEWS here

SONICWALL 2022 CYBER THREAT REPORT

The past year has seen a meteoric rise in ransomware incidents worldwide.

Over the past 12 months, SonicWall Capture Labs threat researchers have diligently tracked the meteoric rise in cyberattacks, as well as trends and activity across all threat vectors, including:

Ransomware
Cryptojacking
Encrypted threats
IoT malware
Zero-day attacks and more

These exclusive findings are now available via the 2022 SonicWall Cyber Threat Report, which ensures SMBs, government agencies, enterprises and other organizations have the actionable threat intelligence needed to combat the rising tide of cybercrime.

Click the button below to get the report.

GET REPORT!

PROMOTE YOUR WEBINAR ON ITWIRE

It's all about Webinars.

Marketing budgets are now focused on Webinars combined with Lead Generation.

If you wish to promote a Webinar we recommend at least a 3 to 4 week campaign prior to your event.

The iTWire campaign will include extensive adverts on our News Site itwire.com and prominent Newsletter promotion https://itwire.com/itwire-update.html and Promotional News & Editorial. Plus a video interview of the key speaker on iTWire TV https://www.youtube.com/c/iTWireTV/videos which will be used in Promotional Posts on the iTWire Home Page.

Now we are coming out of Lockdown iTWire will be focussed to assisting with your webinars and campaigns and assistance via part payments and extended terms, a Webinar Business Booster Pack and other supportive programs. We can also create your adverts and written content plus coordinate your video interview.

We look forward to discussing your campaign goals with you. Please click the button below.

MORE INFO HERE!

BACK TO HOME PAGE
Graeme Philipson

Graeme Philipson sadly passed away in Jan 2021 and a much valued senior associate editor at iTWire. He was one of Australia’s longest serving and most experienced IT journalists. He is the author of the only definitive history of the Australian IT industry, ‘A Vision Splendid: The History of Australian Computing.’He was in the high tech industry for more than 30 years, most of that time as a market researcher, analyst and journalist. He was founding editor of MIS magazine, and is a former editor of Computerworld Australia. He was a research director for Gartner Asia Pacific and research manager for the Yankee Group Australia. He was a long time weekly IT columnist in The Age and The Sydney Morning Herald, and is a recipient of the Kester Award for lifetime achievement in IT journalism. Graeme will be sadly missed by the iTWire Family, Readers, Customers and PR firms.

Share News tips for the iTWire Journalists? Your tip will be anonymous

WEBINARS ONLINE & ON-DEMAND

GUEST ARTICLES

VENDOR NEWS

Guest Opinion

Guest Interviews

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News

Comments