Telecom to announce fixed-line upgrade

Telecom will today announce details of a plan to upgrade its fixed-line system to an Alcatel internet protocol telephone network. Believed to be costing $200 million, it will allow Telecom to offer new services.

Last year the company signalled that it would spend $1 billion on an upgrade, and a spokesman confirmed that today's announcement will be in line with the company's reported capital expenditure plans.