In 2 hour(s) and 52 minute(s): Our team is on break until January 7, 2026. Inquiries will be addressed shortly after our return. Thank you for your patience and happy holidays!
Repository logo
 

Difficulties in Value Creation: Telecom New Zealand's Acquisition of Aapt Ltd.

Files

Dissertation(224.04 KB)

Date

2006

Authors

Supervisor

Tourani-Rad, Alireza

Item type

Dissertation

Degree name

Master of Business

Journal Title

Journal ISSN

Volume Title

Publisher

Auckland University of Technology

Abstract

I provide an overview of the Australian and New Zealand telecommunications markets through Telecom New Zealand’s (TCNZ) acquisition of AAPT Ltd in 2000 which amounted to more than NZ$2 billion. Few years later and after writing off approximately NZ$1 billion, TCNZ is considering a sell-off at a considerable loss. I discuss the strategic reasons behind the acquisition and explain how smaller telcos are struggling to compete with the incumbent telecom in Australia. I further conduct an event study to assess the impact of the acquisition on both TCNZ’s and AAPT’s share prices and look at some of the post-acquisition issues. I finally provide a valuation analysis on the AAPT business.

Description

Keywords

Telecom Corporation of New Zealand, AAPT Limited, Consolidation and merger of corporations, Telecommunication

Source

DOI

Publisher's version

Rights statement

Permanent link

https://hdl.handle.net/10292/10916

Collections

Masters Dissertations