The Commonwealth Bank of Australia is selling its 35 percent stake in Electronic Data Systems' (EDS) Australian operation back to its outsourcing partner.
Telecom New Zealand Australia (TCNZA) and the Commonwealth Bank of Australia (CBA) have signed a new three-year data services agreement that will also see TCNZA migrate the whole of the bank to a next generation IP network.
The Telecom New Zealand Group has bought back the Commonwealth Bank of Australia's (CBA) 5 percent equity stake in its Australian subsidiary, TCNZ Australia (TCNZA), as the Kiwi group's five-year, AU$500 million telecommunications outsourcing deal with the CBA draws to a close.
Five years after competition was introduced into the Australian telecommunications sector, ZDNet Australia talks to the major players about the harsh realities of the new telecoms world.
AUCKLAND- Telecom Corporation of New Zealand said on Monday it had finalised the five-year, AU$500 million contract with Commonwealth Bank Group to supply telecommunications services announced in July.
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