Worldx decision close

By RICHARD BRADDELL

A new owner for the New Zealand business of WorldxChange could be named today.

The future of the long-distance telecommunications company has been up in the air since it filed for Chapter 11 bankruptcy protection of its US parent, World Access, three weeks ago.

The Australian arm has just been sold to Perth company New Tel, reportedly for about $A11 million ($13.6 million).

The Australian Financial Review reported that Tele2000 might be interested in the New Zealand operation.

WorldxChange's financial chief, Phillip Payne, said a company announcement was possible today.

Three years ago, WorldxChange triggered the collapse of toll prices here by offering rates to major overseas destinations that were often less than half those of Telecom and Clear Communications.