The functional separation of Telecom NZ marks a new era for telecommunications in the country, says the company’s CEO Paul Reynolds.
As of 31 March, the company is now divided into the distinct business units of network access, wholesale and retail, in order to dissolve the company’s telecommunications monopoly in the country.
"Our 'Separation Day' is a milestone in so many ways - for our customers, for Telecom's more than 7000 staff and indeed for all users of telecommunications in New Zealand," Dr Reynolds said.
Dr Reynolds said the completion of the undertakings was thanks to the combined work of the Minister of Communications Minister Cunliffe, his officials, Telecom NZ and others across the country.
"[The Ministry of Economic Development and Telecom] have worked tirelessly on the detail of the undertakings for close to a year and as a consequence of thousands of hours of conversations, we have a clear understanding of both the words and the spirit of the undertakings.
"I also want to acknowledge the constructive relationship Minister Cunliffe has brought to his engagement with Telecom New Zealand as the undertakings have come together in recent months,” he said.
According to Dr Reynolds, Telecom NZ has a number of large infrastructure projects in the works, ultimately benefiting both business users and consumers.
"These investments will deliver more choice and better products and services for telecommunications users, whether they are business or household consumers,” he said.
These include a rollout of “world-class fast broadband” and a new mobile network.