AAPT the albatross around Telecom's neck
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[October 19, 2008]

AAPT the albatross around Telecom's neck

Oct 19, 2008 (The Sydney Morning Herald - ABIX via COMTEX) --
AAPT, Telecom Corporation of New Zealand's (NZ) Australian subsidiary, continues to perform poorly. AAPT's general manager of strategy, Clive Poolman, recently told a Senate hearing that Telstra and Singtel Optus account for all of the profits made by the nation's telcos and ISPs. Telecom NZ acquired AAPT for $A1.5bn in 1999 and wrote down its carrying value to $A270m in 2006. Macquarie Equities said Telecom NZ could again attempt to sell AAPT, but it would be difficult to locate a buyer in the current market conditions.



Publication Date: 20 October 2008
TELECOM CORPORATION OF NEW ZEALAND LIMITED - ASX TEL
AAPT LIMITED
TELSTRA CORPORATION LIMITED - ASX TLS
SINGTEL OPTUS PTY LTD
SINGAPORE TELECOMMUNICATIONS LIMITED - ASX SGT
MACQUARIE EQUITIES LIMITED
MACQUARIE BANK LIMITED - ASX MBL
POWERTEL LIMITED
MACQUARIE TELECOM GROUP LIMITED - ASX MAQ
COMMANDER COMMUNICATIONS LIMITED - ASX CDR
TERRIA PTY LTD
INTERNODE SYSTEMS PTY LTD
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

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