Telecom Corporation of New Zealand (ASX: TEL) has bought back over a million shares, at a cost of over NZ$4 million (AUD$3.5 million).
The company is also planning to buy back up to 15 million more shares at between NZ$3.92 and NZ$3.98 a share.
The share buyback is being funded by up to NZ$1.1bn accrued from the sale of the company's Yellow Pages service, which earned the company a total of over NZ$2.2bn.
The move is an attempt to return some of the money earned from the sale back to investors.
The company is expecting no earnings growth for the next four years, as much of its money is tied up with the cost of expanding into Australia, and compliance costs and increased competition within New Zealand are keeping profit margins lean.
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Computerworld Live Podcast #97: The Future of Enterprise Networking 25/07/2008 09:45:36
This week CW Live chats with Mark Thompson, global sales and marketing manager for HP ProCurve, on the future of the enterprise networking. Mark discusses the trends we can expect to see in the near future and how the right infrastructure can ensure your enterprise network is secure. - +
Computerworld Live Podcast #96: Security at the Edge 11/06/2008 09:22:22
CW Live speaks with Amol Mitra, HP ProCurve Director of Marketing for Asia Pacific and Japan. Today's topic: how enterprises are starting to shift away from simply controlling security via server logins, firewalls and moving to more adaptive security frameworks. - +
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IT Security Edition #11: How to poison the Storm botnet 01/05/2008 08:51:55
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Vendors bow to end user pressure to improve product security, and we take a look at the latest concepts shaping the cyber-battlefield of the future.
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Refresh your AUP: Top tips to ensure your acceptable use policy is fit for purpose
Your organisation may well have devised and implemented an Acceptable Use Policy (AUP) some time ago in order to guard against the risks of inappropriate use of computer systems by your workers, but are you confident that your AUP remains 'fit for purpose'? Read on to discover how you can enhance the effectiveness of your AUP.
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