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"NZ Telecom's bond holders approve demerger plan
By Lucy Craymer, Dow Jones Newswires
Friday 30 September 2011
Incumbent operator to formally request approval from bonds trustee.

Telecom Corp. of New Zealand is one step closer to spinning off its infrastructure unit after the company's bond holders approved the plan to split into two listed companies."

Also a Tid-bit:

I was looking to see about a divenden increase, still looking. Will check their website.....

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