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May 22, 2012
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Further details are emerging about Telecom’s impending split into two
companies, including the replacement of Paul Reynolds as chief executive
from 2012. The demerger is expected to be completed by November 30 subject to a shareholder vote, after which New Chorus is expected to have approximately $1700 million of net
interest bearing debt while New Telecom shoulders up to $950
million. Telecom has also estimated the total cost of deploying its fibre network in the range of $1400-1600 million over
the period of the rollout to 2019.
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New Zealanders will be at the “front of the queue”
for shares in SOEs and will retain ownership of at least 85-90 percent
of those companies, according to the National Party. In a speech delivered on finance minister Bill English’s behalf, Tony Ryall has told the Institute of Finance Professionals that
foreigners would own up to 15 percent of state-owned assets to be
partially sold off under the government’s election plan – and no one
investor would be allowed to own more than 10 percent of an SOE’s
shares. The partial sales would raise $5-7 billion and the government will
retain at least 51 percent control of the five companies it is looking
to sell a stake in.
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From an IT point of view, Wellingtonian American Dave Moskovitz
thinks we can do a lot more to get good internet initiatives cranking
quickly. As chairman of seed investor/incubator WebFund, Moskovitz has spent the past 18 months looking at overseas model, but says such accelerator examples need tailoring for NZ conditions. The result is ‘HyperStart’, an intensive six-week programme that will invest in 10 startups and prepare them for overseas launch.
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Was it just two years ago that we were selling our firstborn for
invitations to the GoogleWave ‘limited public beta’? That one fizzed
like a post-OSH firework, so you’d have thought the announcement of
Google+ would have been greeted with a fair amount of
eyerolling, writes Vaughn Davis.
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Turns out the lip balm market is an extremely cluttered, competitive space – but Universal McCann’s Maybelline Baby Lips campaign has taken out the
second quarter of Yahoo! New Zealand’s Digital Strategy Award for a world-first strategy that combined live
television and social networking. U TV hosts and guests engaged
audiences with the product via a ‘Truth or Dare’ game that invited
viewers to share their best pouty lips photo on Facebook to be into win
packs of Baby Lips, and a branded app further extended Maybelline’s reach among the target market.
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As World Cup fever grips the nation, non-rugby fans can seek solace
in events that have nothing to do with chasing oval balls around a
field. Specifically, foodies will converge on Victoria Park for Taste of New Zealand in October, a massive culinary festival featuring signature dishes from top New
Zealand restaurants, chef demonstrations, a produce market and
entertainment courtesy of a grand bandstand under the direction of Peter
Urlich. Today’s the last day to secure earlybird tickets, and we’ve also got two double GA passes to give away.
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