Telecom shares continue slide

Published: 11:26AM Wednesday March 17, 2010 Source: ONE News

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  Telecom - Source: Telecom

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Telecom's share price has dipped again to a new low.

Just before 11.30am on Wednesday, the stock had fallen another 4 cents to $2.13.

The shares hit a record low of $2.17 on Tuesday, following Telecom's comments that it would lose millions of dollars under the government's new rural broadband roll out.

It said its EBITDA guidance for each of the 2011, 2012 and 2013 financial years will be adversely impacted by the scheme, by up to $56 million.

The decline also comes on the back of fallout from several outages on Telecom's XT mobile network.

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