Of these, due to privatisation, only New Zealand Post remains as an SOE. Telecom was sold to two United Statesbaby bells, and PostBank was sold to the Pacific banking conglomerate ANZ. The PostBank brand was phased out in the mid-1990s.
Later on, as per the conditions of Telecom's privatisation, it was floated in the early 1990s on the New Zealand Stock Exchange.
Telecom was formed in 1987 from a division of the NewZealandPostOffice and privatised in 1990.
Three other political parties, NewZealand First [13], the Green Party [14] and United Future [15] all appear to support the decision which would give the government at least 66 votes if there are no votes against the party line.
The NewZealand Treasury has estimated the economic loss from Telecom's monopoly to be in the region of $50–$250 million a year.
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