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Telecom is understood to have struck an informal deal with the Government to sell its fixed-line telephone network, valued at more than $3 billion.
New chief executive Paul Reynolds and chairman Wayne Boyd cut the backroom pact after months of behind the scenes negotiations, the Dominion Post reported today.
The sale would take place after the carve-up of the telecommunications giant.
Details of the split are to be announced in Auckland today by Communications Minister David Cunliffe.
- NZPA
