Telecom Trading To Resume
Merrill Lynch advised Telecom this morning that the overnight on-sale of the Verizon stake has been completed
successfully. There was strong demand from investors in New Zealand, Australia and internationally.
Telecom this morning instructed the Australian Stock Exchange to resume trading in its shares.
A brief halt in trading had been called yesterday after Telecom received a substantial security holder notice confirming
that Verizon, the holder of 21.5% of the shares in Telecom, had sold the majority of its holding.
Trading in Telecom shares on both the New Zealand and Australian stock exchanges is to resume when they open this
morning.