Telecom moves on Sky appointment

The telco, which announced just last Thursday it had paid $192 million for a 12% stake in Sky, has appointed Wellington CFO Marko Bogoievski to the company's board.

With unanswered questions still hanging over Telecom's ability to buy any of the Cable and Wireless Optus assets in Australia, many market commentators have questioned if now is the right time to be throwing money at a pay-TV company.

Telecom CEO Theresa Gattung has described the investment as one that "supports Telecom's transformation into an online and communications group, at the forefront of convergence in Australasia."

Given the lack of growth apparent in the New Zealand market for Telecom's other stable of products, a closer relationship with Sky may offer the company advantages in grabbing a slice of the entertainment dollar.

Sky last week announced its subscriber base in New Zealand had grown to more than 400,000, increasing more than 17% in the past 12 months.

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