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By Allan C. Nichols | 06-16-2009 01:27 AM

On the Line with New Zealand Telecom

New Zealand Telecom CFO Russ Houlden comments on the firm's new management, dividend sustainability, broadband plans, and quest for wireless market share.

Securities mentioned in this video
NZTCY Telecom Corporation of New Zealand Ltd
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Allan Nichols: Good morning, I'm Allan Nichols, senior international telecom analyst with Morningstar. Today, I have with me the CFO for New Zealand Telecom, Russ Houlden.

Thanks for being with us today, Russ.

Russ Houlden: Allan, thanks for inviting me.

Nichols: We understand you're on a road show telling us about New Zealand Telecom, and the changes that are going on. Could you tell us a little bit about what's happening with your company?

Houlden: It's a pretty interesting time for Telecom right now, Allan. If you go back a few years, the management of Telecom at the time got into some difficulties with customer service and rolling out broadband.

The result of those difficulties was a massive regulatory intervention. I think it's well recognized in the telco sector, this is probably the biggest regulatory intervention of any company in the telco sector worldwide.

That hit in 2006, and following that, the board decided to change management. The new management was brought in place; the CEO came in, in 2007. He brought in a new management team in 2008. The new management team has now set out a plan to turn around the company, and that's what we're here to tell investors about.

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