TCF Prospectus 2016

7/25/2019 TCF Prospectus 2016

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TELECOMMUNICATIONSENABLING NEW ZEALANDSFUTURE

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FOREWORD 2

A SNAPSHOT OF NEW ZEALANDSTELECOMMUNICATIONS INDUSTRY 3

REALITY CHECK: TELECOMMUNICATIONSMAKING A DIFFERENCE 4

THE POWER PLAYER FOR NEW ZEALAND INC 5

CONTENT TO CONSUMER: THE DATA JOURNEY 8

HOW THE NETWORKS WORK 9

INVESTMENT AND INNOVATION:A WORLD CLASS NETWORK TO BE PROUD OF 10

TELECOMMUNICATIONS : MEGA TRENDS 11

CHANGES IN CONSUMER BEHAVIOUR:AHEAD OF THE GAME 12

ENHANCING KIWIS LIVES 14

WHAT DOES THE FUTURE LOOK LIKE? 16

MEETING FUTURE DEMAND FOR DATA 17

A FRAMEWORK FOR FUTURE PROSPERITY 19

ABOUT TCF 20

ENABLING NEW ZEALANDS FUTURE 1


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TELECOMMUNICATIONS:ENABLING NEW ZEALANDSFUTURE

Theinformation in this document is presented in good faith usingtheinformation availableat the timeof preparation (November 2015).TheTCFappointed an independent research company(SapereGroup)to undertakeindustryresearch sourced from publiclyavailableinformation.This is asummarised version of that research.Full details on datasourceand references arelisted in thefullreport, acopy of which is availablefrom theTCF.

WhiletheTCF has madeeveryeffort toensurethe accuracyof this report,it takes noresponsibilityfor anyerrors or omissions in relation totheinformation contained herein.TheTCF will not beliableto anyperson or organisation for anydamageor loss which mayoccur in relation totaking,ornot taking,action in respect of anyinformation or advicewithin this report.

AS A NATION, WE CAN BEPROUD OF OUR WORLDCLASS NETWORKS.

CURRENT STATUS:A SNAPSHOT OF NEW ZEALANDSTELECOMMUNICATIONS INDUSTRY

innovative sectors, and provides arange of services that are increasinglycompetitive on both price and qualitycompared to other countries. Thesector is helping to lift our livingstandards, drive technological change,and enhance the economys underlyingproductivity capacity.

Such progress is the result ofunprecedented levels of investmentby industry participants, innovation,industry collaboration as well asimproving competition in a numberof areas in the market. Combined,these factors make New Zealand amore prosperous place to live anddo business.

The roll out of Ultra Fast Broadband(the most ambitious project to date);the Rural Broadband Initiative;andthe exceptionally quick deploymentof three separate 4G mobile networkshas underpinned this progress.These services are improvingNew Zealanders access andconnectivity speeds.

Connecting learning centres,healthcare providers, emergencyservices and other community servicesto high speed broadband is deliveringlife-changing benefits for individuals

and groups.

Today, New Zealand has approximatelyfive million telecommunicationsconnections. These require a highquality, reliable service for purposessuch as banking, communication,education, entertainment and more.

As for tomorrow, we can assumethe demand for data will continueto rise at a breath-taking rate.Digital natives, the next generation ofNew Zealands leaders, are growing upwith technology at their fingertips.The Internet of Things is fast becominga reality, reinventing how we operate:from the explosion of health-related wearables and devices thatreport minutiae on our wellbeing;to driverless cars capable of safelynavigating from A to B withouthuman input.

To conclude, weve come a long way ina short time. The sector has undergonemassive transformation in the lastdecade, and were now performingbeyond our OECD peers in many ways.

As a nation, we can be proud of ourworld class telecommunicationsnetworks. Through sensiblefuture investment, innovation andcompetitive markets we can remainin that position.

Investment $1.7billion perannum;the second highestout of all OECD countries.

Equal highest usersof smartphone bankingin OECD.

New Zealanders benefitingfrom increasinglycompetitive pricing: Mobilepricing reduced 46% over2 years to 2014, secondgreatest reduction inmobile prices in the OECD.

250% increase in totalUFB connections (inthe year to Sept 2015);Fastest fibre uptake inthe developed world.

Fixed and mobiledownload and uploadspeeds improving.

Rapid deployment ofthree 4G networks.

Roll out of UFB and ruralbroadband initiativeaccelerates.

The telecommunicationssector employs 14,460full time employees.

Consumer telco costshave declined whilenearly all other householdexpenditure has increased.

New Zealand householdsnow consuming doubleamount of data as they did12 months ago.

Nearly half a millioncustomers moved fromcapped to uncappedbroadband connections inthe last year from 8% to33% (June 2015).

Early adopter of devices video surveillance, tracking,healthcare monitoring.

FOREWORDBY GEOFF THORN,CEO OF NEW ZEALANDTELECOMMUNICATIONS

FORUM (TCF)Telecommunications services havebecome a key staple of modern life. Asconsumers, we expect fast, ubiquitousaccess to networks that allow us to geton with our digitally-connected lives.

These are genuinely revolutionarytimes, for the user and for thetelecommunications industry whichenables it all. Such immense changewarrants a closer look at NewZealands telecommunications sector.We believe the time is right to thinkabout where we are, how our industryis performing, and where technology istaking us.

This document summarises how NewZealand compares with our OECDcounterparts;the contribution of thesector to the domestic economy; andinsights into what the future may hold.

New Zealands world classdigital network

The telecommunications industry

in New Zealand is investing at oneof the highest rates in the OECD.It is one of New Zealands most

ENABLING NEW ZEALANDS FUTUREENABLING NEW ZEALANDS FUTURE 32


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EMBRACING THE DIGITAL REVOLUTION

The impact of a world class network on New Zealandseconomic and social prosperity goes well beyond the

face value of the sector in terms of revenue, investmentor employment.

The ability to connect wherever we go and whatever we dounleashes New Zealand from being at the edge of the worldgeographically, to the virtual centre. These connectionsdrive improvements in health, education and productivityoutcomes locally and globally.

Our countrys reputation for innovation and creativity nowbecomes more visible to the world. As early adopters, weretaking advantage of smart devices and next-generationtechnology. All New Zealanders are able to collaborate witheach other and the rest of the world in a way that only a fewwere able to in the past.

The ICTs sector contribution was

higher than any other OECD country,including our 10 main OECD exportcompetitors in two periods:2001 to2007;and 2008 to 2013.

An MBIE report on ICT showed the

sector accounts for $3.09 billion ofgross domestic product, growingat an annual pace of 9.3 percentbetween 2008 and 2013.

A 2012 study into the social and

economic impacts of UFB and RBIfor New Zealand showed that theeconomic activity generated frombuilding UFB and RBI will grow ourGDP by $5.5bn over 20 years thatsa $1.37 GDP impact for every $1invested.

The study, by Alcatel Lucents researcharm, Bell Labs, indicated that over 20years, up to $33bn will be saved fromdoing things more efficiently andeffectively online. Heres how:

* Source:broadbandtoolkit.org/1.3

In healthcare: more video-conferencing between doctors,specialists and patients, resultingin faster access to physicians,faster delivery of care and remotediagnostics. These changes will reduceemergency room visits, hospitaladmission, the need for tests and thecosts of long-term prescription drugs.Estimated savings = $6bn.

In education:technology inclassrooms improving learning,lowering costs and giving learners andteachers access to national resourcessuch as Te Papa, as faster moreconsistent broadband speeds enablebetter video-conferencing.Estimated savings = $3bn.

In business:improved productivity,lower travel costs, greater flexibilityfor people to work from home,lower network and communicationexpenses, and saving from puttingapplications into the cloud.Estimated savings = $14bn.

In agriculture:savings frombroadband applications that improvemilk solid production applicationssuch as online farm managementand herd management tools andautomated farm data collectionand analysis tools.Estimated savings = $9bn

REPOSITIONED IN THE PECKING ORDER

The economic growth of New Zealand has long beenunderpinned by a combination of interconnected transport

networks (road, ports, airports), along with utility networksand critical services such as hospitals and schools.These have all contributed significantly to the wellbeingof our communities.

Although important in the above equation,telecommunications previously sat below a numberof other infrastructure services in the pecking order,particularly when it was primarily focused on the humbletelephone, providing voice-only services.

But the growth of the mobile telephone, followed by itsevolution towards data, the availability of broadbandand smart devices elevated the importance oftelecommunications services.

It now ranks in the top echelon of critical infrastructures.Consumers expect network accessibility wherever,whenever. Like power and water, were accustomed to itsavailability without giving its source a second thought.

TELECOMMUNICATIONS:THE POWER PLAYER FORNEW ZEALAND INC

REALITY CHECK:TELECOMMUNICATIONSMAKING A DIFFERENCE

WHAT IS UFB?Ultra-Fast Broadband is ageneric term used to describethe transmission medium (suchas fibre, copper or wireless)capable of delivering high-speedinternet access.

In New Zealand, thegovernments UFB initiative isto provide faster, better internetto at least 99 per cent of thepopulation by 2025. The roll outof fibre optic cables throughouttowns and cities is enablingusers to typically enjoy downloadspeeds of at least 100Mbps.

WHAT IS RBI?The Rural Broadband Initiativeis designed to help ruralcommunities also benefit fromhigh class internet connectivity.The combination of wirelesstowers, rural cabinets and fibrewill enable more than 90 percent of users outside UFB areasto enjoy broadband internetwith minimum peak speeds of5Mbps, and up to 50Mbps if

government targets are met.

NEW ZEALANDS TELECOMMUNICATIONS SECTOR ISMAKING A SIGNIFICANT CONTRIBUTION TO OUR LOCALECONOMY. IT IS A KEY ENABLER OF GDP GROWTHAND PRODUCTIVITY, AND IS PREDICTED TO LIFTNEW ZEALANDS GDP BY 1.5%*



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AT A GLANCE

Our investment rate was the second highest out ofthe top 10 OECD countries which comprise our maincompetitors in global export markets.

WERE LEADING THE PACK IN THE DEVELOPED WORLD INTHE SPEED OF OUR SWITCH TO FIBRE-OPTIC BROADBAND,WITH A 250 PER CENT INCREASE IN TOTAL CONNECTIONSLAST YEAR, THE HIGHEST IN THE OECD.250

New Zealands mobile pricing has reduced 46percent, the second greatest reduction in mobileprices in the OECD.

NEW ZEALAND HAS ONE OF THE

FASTEST 4G MOBILE DOWNLOADSPEEDS (MBPS) IN THE WORLD



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The fixed access network reaches into homes andbusinesses over a combination of copper, fibre and in someregions, cable. Chorus delivers the copper network and 70percent of the UFB fibre network. The remainder of the UFBfibre network is delivered by Northpower Fibre in Northland;Ultrafast Fibre in the Bay of Plenty, Taranaki and theWaikato area;and Enable Networks in Christchurch.

The traffic downstream (or upstream) from each of the1.22 million connections is then transported around thecountry by a core network of lines and exchanges beforebeing handed over to broadband retailers such as Spark,Vodafone, Orcon, 2degrees and many others at differentlocations around the country.

The providers optimise their core networks to ensureresidential and business consumers get the best possiblebroadband performance. This includes caching or keepinglocal copies of the most frequently used content forefficiency and managing how the traffic is transported

around the country. They also provide the essential onlinesecurity tools to minimise spam and keep data safe.Software firewalls, sophisticated intrusion detection toolsand spam filtering are such examples all designed to thwartmalicious content.

Broadband retailers also purchase international capacitythat allows New Zealanders to access content from serversaround the world, such as YouTube, Google, Facebook andinfinitely more.

The mobile network infrastructure runs overs a combinationof 2G, 3G and 4G technologies operated by Spark, Vodafoneand 2degrees. Data is transported to and from a devicethrough to mobile sites, before being connected into themain national data transport networks.

Mobile network services may also be resold by other

retail network providers, such as Skinny, Slingshot andWarehouse Mobile.

CONTENT TO CONSUMER:THE DATA JOURNEY

HOW THE NETWORKS WORKNEW ZEALANDS TELECOMMUNICATIONSPROVIDERS WORK IN UNISON TO CONNECT

NEW ZEALANDERS TO THE INTERNET OVERMOBILE, FIXED AND WIRELESS CONNECTIONS.

INTERNET

HOME OR BUSINESS

ROADSIDE

CABINETS

FIXED ACCESS NETWORK

COPPER

NETWORK

FIBRE

NETWORK

LOCAL

EXCHANGES

3x MOBILE NETWORKS

MOBILE RETAIL PROVIDERS INTERNET SERVICE PROVIDERS



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Our Network Readiness Index score a measure on a countrys performance

in leveraging ICT to boost competitiveness and well-being is better thanmost of the 143 countries in the World Economic Forum index.

NETWORKED READINESS INDEX VERSESGNI PER CAPITA

TELECOMMUNICATIONS:MEGA TRENDS

MOBILITY:ANYTIME, ANYWHERE CONNECTIVITYThe combination of wide mobile coverage, high speedfixed line access and other technologies such as|wireless provide ubiquitous access to content

USER DEMANDIncreasing appetite for evermore technology anddata in our lives

CLOUD SERVICESUse of computer hardware and software resourcesdelivered over a network or the Internet

BIG DATALarge volumes of structured and unstructured datathat can be analysed to reveal patterns and trends

DIGITAL PRIVACYProtecting personal and company data from unwanted,unauthorised access

INTERNET OF THINGSConnecting everyday objects to enable data collection,monitoring, process-improvement and decision-making

GREATER INVESTMENTOUR INVESTMENT RATE WASTHE SECOND HIGHEST OUT OFOUR MAIN OECD RIVALS

Network Readiness Index

6

7

4

5

2

3

1

0

0 20,000 40,000 60,000 8 0, 000 1 00,000 120,0 00

NZ

GNIpercapita(USD)

LEADERS IN INNOVATION

THE SECTOR IS ALSO SHOWNTO BE ONE OF NEW ZEALANDSMOST INNOVATIVE. IT PROVIDESSERVICES THAT AREINCREASINGLY COMPETITIVEON BOTH PRICE AND QUALITYCOMPARED WITH THOSEOFFERED IN OTHER COUNTRIES.

Meeting consumer and business demand for new and

improved digital services means constant investmentand innovation.

In New Zealand, the sector has made significantinfrastructure investments, spending billions over the lastfew years to support the enormous growth in the volumeof data moving around.

In 2014 alone, sector investment increased to $1.7 billion.

This is one of the highest rates in the OECD, andproportionately more than most other OECD countries.

INVESTMENT & INNOVATION:A WORLD CLASS NETWORKTO BE PROUD OF

ANNUAL TELECOMMUNICATIONS INVESTMENTBY TYPE ($M)



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Were leading the pack in the developed world inthe speed of our switch to fibre-optic broadband,with a 250 per cent increase in total connections,the highest in the OECD.

OECD: GROWTH OF FIBRE CONNECTIONS AMONGCOUNTRIES REPORTING FIBRE SUBSCRIPTIONS,DECEMBER 2013 TO DECEMBER 2014

ONLINE ACTIVITIES (PERCENT OF INTERNET USERS)

NEW ZEALANDERS ARE RAPID ADOPTERS OF TECHNOLOGY,SUBSCRIBE TO NEW SERVICES MORE ENTHUSIASTICALLYTHAN MOST, AND ARE SAVVY INTERNET USERS.

NEW ZEALANDERS LOVETECHNOLOGY. WE WERETHE EQUAL HIGHESTUSERS OF SMARTPHONEBANKING IN OECD IN 2013,

AND JOINT LEADERS INOUR ABILITY FOR FINDINGINFORMATION ON LOCALBUSINESSES OR SERVICESUSING A SMARTPHONE.

CHANGES IN CONSUMER BEHAVIOUR:AHEAD OF THE GAME

0

20

40

2006 2012

60

80

High bandwidth and/orlow latency required(demanding more ofnetwork infrastructurethan those shown asyellow lines).

Internet banking

Social networking

Sell goods and services

Phone and video calls

Health-relatedMusic

Movies & images

Books,newspapers ormagazines

Radio & TVGovernment forms

Computer games

Government payments

Peer to peer file sharingOECD average

300

250

200

150

100

50

0

-50

New

Zealand

Spain

Belgium

Australia

Italy

Luxembourg

France

Switzerland

Chile

Canada

Portugal

Austria

Germany

Poland

Netherlands

Turkey

Finland

Norway

CzechRepublic

Sweden

Iceland

UnitedStates

SlovakRepublic

Mexico

Denmark

Hungary

Slovenia

Greece

Korea

Estonia

Japan

Ireland

FASTEST FIBRE UPTAKE INTHE DEVELOPED WORLD

Were also ranked as a heavy user of mobile devices forpurchasing goods online, tied seventh across the OECD.

We show above average growth in use of smartdevices such as healthcare monitoring, tracking andvideo surveillance.

Our attitudes to how we view content is also changing.More than one-in-ten people now say streaming over

the internet is their main way of watching TV a figurethat has doubled in the past year and brings us into linewith Australia and the UK. International trends indicate

New Zealands uptake of subscription video-on-demandservices like Lightbox, Neon and Netflix will continueto increase.

Mobile calling minutes continue to rise despite the

availability of over the top VoIP (Voice over InternetProtocols) calling on mobiles. In 2013 and 2014, mobileminutes exceeded 10 per cent year on year growth, whilemobile data usage patterns are growing fast at 64 percent compound annual growth rate.



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IN BUSINESS, RESEARCH SHOWS THAT AS ORGANISATIONSUSE MORE OF THE POTENTIAL OF INTERNET SERVICES,IT COULD BE WORTH AN ADDITIONAL $34 BILLION INPRODUCTIVITY IMPACTS TO THE NEW ZEALAND ECONOMY.

CASE STUDY #1

CONNECTING RURALNEW ZEALAND

Fast and reliable mobile connectivity is important to ruralcommunities where innovations in remote monitoring,machine to machine communications and precisionfarming are driving productivity improvements acrossthe agriculture sector.

Modern technology available through fast 4G mobile

broadband increases coverage and the ability to carrymore data.

Waikato dairy farmer Tony Walters finds the network makesa huge difference to productivity. On-farm sensors collectinformation on rain, wind, temperature and soil moisture,which informs how much ground water can be taken, howmuch effluent can be applied and how to get the best

results from deploying fertilizer.

CASE STUDY #2

CREATING SAFERCOMMUNITIES

Just as mobile applications, tablets and smartphones havehelped private sector organisations increase productivity,they are now supporting frontline police officers in theiroperations and enabling smarter use of resources.

New Zealands most mobile workforce is now betterprepared to react in real time. 6,500 frontline NZ Policeofficers are equipped with the latest smartphones.Officers on patrol have access to high-speed dataand bespoke, innovative applications that run on thesmartphones and tablets.

This fresh approach unlocks significant savings throughgreater efficiency. Productivity savings, which are beingre-invested in frontline crime prevention, are also forecast.

This new mobile method of communication transformshow NZ Police do their job, and has meant:

520,000 HOURS ANNUALPRODUCTIVITY GAINS.THATS 30 MINUTES PEROFFICER PER SHIFT WHICHIS DIRECTLY REINVESTEDIN FRONTLINE POLICING.

Being able to access the internet fasterallows our farm to make better useof the latest apps and online farmingtools to do things like store, recordand analyse on-farm data. All of thishelps us make better, more informeddecisions, making sure we can workfaster and smarter.

Tony Walters, Dairy Farmer

Were focusing on rolling outHealthCloud, a secure healthnetwork for the 85 practices servedby WellSouth. This is part of a largercollaboration with primary healthorganisations across the SouthIsland that aligns with a governmentshared services strategy for coreIT infrastructure. Access to gigabitservices in Dunedin makes what waspreviously a dream, a reality.

Kyle Forde, CIO WellSouth

CASE STUDY #3

IMPROVING HEALTHSTANDARDS

Technology allows access to a connected world. Forhealthcare, that means better outcomes for patients, astheir doctors, clinicians and medical practices can easilysee their medical history and access information on thebest treatment options.

WellSouth is responsible for working with generalpractice to provide primary health care to the 300,000people of Otago and Southland. Its chief information officer,Kyle Forde, is using the gigabit fibre broadband to helpdeliver improved health services.

Another benefit is online training for medical staff.Clinicians can continue their medical education viadigitally-delivered training solutions. Its a simple thing

thats making life easier for clinicians. They appreciate beingable to spend as much time with patients as possible, andnot travelling long distances to and from training seminars.

CASE STUDY #4

EDUCATING THE NEXTGENERATION

Todays young people are growing up in a world wheretechnology is integral to their lives. Thats why it is soimportant the classrooms of today can teach the skillsimportant for tomorrow.

Most New Zealand schools now have a fibre connection

to the internet capable of delivering broadband speeds ofup to 1Gbps. More than 735,000 teachers, administrators

and students also have access to Network for LearningsManaged Network - designed specifically for schools,

providing safe, predictable and fast internet with uncappeddata, online content filtering and network security services.

Supported by a number of technology partners, theseconnected classrooms are designed to be responsive to

the changing nature of how teachers and students usethe internet.

ENHANCING KIWIS LIVES

OUR SCHOOLS ARE NOWOPEN TO A WORLD OF ONLINELEARNING OPPORTUNITIES,MEANING OUR CHILDREN AREBEST PLACED TO SUCCEED INTHE DIGITAL AGE.



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MEETING FUTUREDEMAND FOR DATA

An exponential wave of change has been buildingover the last 20 years as every improvement in digitaltechnology and network capability has been matched and exceeded by a corresponding rise in demand.

What we do with technology today would have beenimpossible ten years ago. Every day, its estimated thatover 1.8 billion photos are uploaded and shared on theinternet . By 2017, nearly a million minutes of videowill cross the internet every second. And according toglobal estimates, by 2020 there could be over 50 billiondevices connecting to all that data.

Here in New Zealand, the tyranny of distance iscrumbling in the face of technology, allowing us tostand at the leading edge of this digital revolution. Wenow expect service when we want it, wherever we are.

CONTINUED ROLLOUT OF 4G MOBILE DATA NETWORKS

HUGE INVESTMENTS IN FIBRE DRIVING UPTAKE TOTHE FASTEST IN THE OECD

CORE OPTICAL TRANSPORT NETWORK AND LOCALNETWORK UPGRADES

ADDITIONAL TRANS-TASMAN CABLE UNDERWAY

THE AVERAGE NEW ZEALAND HOME NOWCONSUMES ALMOST TWICE AS MUCH DATAON AVERAGE PER DAY AS THEY DID A YEARAGO. ITS AS MUCH DATA IN A MONTH ASTHE ENTIRE COUNTRY CONSUMED IN A DAY,ONLY 15 YEARS AGO.

WHAT DOES THEFUTURE LOOK LIKE?

A WAVE THATKEEPS ON BUILDING

BY 2025, 99% OF NEW ZEALANDERSWILL ENJOY PEAK SPEEDS OF 50MBPS

NZs fixed internet trafficwill double by 2019

Network busy hour theperiod during which themaximum total trafficload occurs will increasemore than average traffic

Our love of video isexpected to grow fasterthan world average

Mobile data volume togrow seven-fold by 2019



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THE GOVERNMENT HAS RECENTLY STATEDITS GOAL FOR 99% OF NEW ZEALANDERSHAVING ACCESS TO BROADBAND SPEEDSOF 50 MBPS BY 2025.

This ambition will place New Zealand in the topechelon of countries in terms of the quality ofconnections available to business and consumers.At current levels of industry investment, there isno doubt this can be achieved. For the majority ofbusinesses and consumers, it will be exceeded.

We are starting to see innovative uses of technologyas a consequence of such profound investment. Andwhen traditionally late adopters migrate towards atechnology-rich environment, they stand to make thegreatest productivity gains from the investment made.

The real challenge for government is to ensure theregulatory environment supports and facilitatescontinued investment by the industry to allowNew Zealand to truly benefit from world classnetworks, both mobile and fixed line.

The industry is best placed to make commercialchoices about where and how to make these

investments. As much as possible, it must havethe ability to make its own decisions.

The industry is determined to connect New Zealandersto a future of unbounded possibilities. Finding a wayto do that is our biggest challenge and New Zealandsmost exciting opportunity.

A FRAMEWORK FORFUTURE PROSPERITY

Our increasing reliance on telecommunicationsservices is putting pressure on networkinfrastructure. The rise of streaming video, socialnetworking, cloud services, and myriad otherapplications can potentially congest networks,slow down productivity and ultimately impact ournations progress.

Thats why ongoing, sustainable investment to

ensure these networks can cope with futuredemands is front and centre for the industry.

New Zealands telecommunications companiesmust wrestle with sizing their investments to ensurenetworks provide improved, quality services whilestill earning reasonable returns for shareholders.

For an industry that has undergone enormouschange just think back to what it was like only tenyears ago it is telling that many industry insidersconsider sustainable investing as the biggestchallenge yet.

COMING NEXT:BALANCING MOREFOR LESS



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THE TCF COMPRISES THE FOLLOWING INDUSTRY PARTICIPANTS:

ABOUT TCF

The New Zealand Telecommunications Forum(TCF) plays a vital role in bringing togetherthe telecommunications industry to resolve

regulatory, technical and policy issues.In doing so, we enable the best possibleoutcomes for New Zealand consumers.

(Associate member)

ENABLING NEW ZEALANDS FUTURE 21ENABLING NEW ZEALANDS FUTURE20


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WELLINGTON 6011PHONE: 09 475 [email protected]

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