from today's afr...
Date: 2/2/2006 Author: Tina Morrison Source: The Australian Financial Review --- Page: 16 Telecom Corporation of New Zealand is being dragged down by its Australian operations. The telco has yet to report its results for the second quarter of fiscal 2005-06, but it is expected to announce a loss, thanks to the underperformance of AAPT. It is believed that Telecom made a profit of about $NZ191m, excluding extraordinary items, for the quarter. However, those items included the write-off of about half of AAPT's value, or around $A700m. It is likely that Telecom will divest AAPT, or possibly roll it into a joint venture with another telco in Australia.
Me thinks an SOT/AAPT merger would be a better fit.
Regards Quik.
SOT Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held