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Telecom Corporation of New Zealand, also referred to as TCNZ or Telecom throughout this profile, was incorporated in February 1987, and began operating in April that same year. The company was subsequently privatised in 1990, and now, as New Zealand’s largest company and principal telecommunications provider, provides local, national, international, and value-added telephone services, mobile services, data and Internet services, equipment sales and installation services, leased services, and directories. The company is also a significant provider of information technology services, including systems integration, procurement, consulting, and other technology services. The company also owns Australian operator, AAPT, and is part of the Southern Cross joint venture, which built a submarine
fibre-optic cable linking New Zealand, Australia, and the US.
The ordinary shares of Telecom are listed on the NZSX Market and Australian Stock Exchange. Telecom shares are listed on the New York Stock Exchange in the form of American depositary shares.
The New Zealand government holds a single preference share in Telecom (the Kiwi Share) that incorporates special rights and attaches a deed defining certain minimum service obligations upon Telecom.
As of August 5, 2005, the largest shareholders in Telecom were National Nominees New Zealand Ltd (20.6%) and ANZ Nominees Ltd (18.6%).
