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Hi Fools,
Here is some brighter news in a week of doom and gloom...


It says Telecom's plan to "cabinetise" parts of its fixed-line network would reduce the threat posed by local loop unbundling and the stock could rise as high as $6.06.

"Only recently, we believe the 'bears' are coming around to our view that competition is benign in New Zealand, regulatory changes will not directly lead to significant market share losses and Telecom's ability to defend market share has been grossly underestimated."

"At face value, unbundling is a significant threat for the incumbent", but taking fibre closer to customers by cabinetising 30 per cent of access lines will discourage unbundling in both those and other areas, it says.

Morgan Stanley says the stock offers a "compelling valuation" in tough times.

See whole story at www.stuff.co.nz/4366842a13
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