Labour continues to bash Telecom

Labour continues its vitriolic attack on Telecom, this time it is Cunliffe weilding the axe to their share price.

Cunliffe suggested the company might have to cut its dividend to boost investment. 

Now this is just rich. After effectively confiscating their asset he now suggests that they should reduce dividends so that they can invest in the asset that has just been nicked off them. 

The total devastation so far exceeds $2.2 billion dollars, but it is more far reaching than that. Many of hard working Kiwi Mums and Dads have invested in Superannuation Funds as well as our "own" Cullen Fund that have in turn invested in Telecom. That investment has effectively been devalued by more than 20%. This will be difficult to recover and investors in those funds may well be looking at a massive loss in their protfolio.

The sad thing is that these taudry socialists have not one clue about the extent of the damage from their nonsense.


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