TELECOM PROFIT RAISES CONCERNS ABOUT COMPETITION IN TELECOMMUNICATIONS INDUSTRY

Deputy Prime Minister and Treasurer Winston Peters says the disclosure of Telecom's profit is cause for concern - not at the profits - but how they have been derived.

"Profits in excess of 40 per cent raise questions about whether consumers and small businesses are getting a fair go," Mr Peters said.

"I intend to look into this issue on behalf of all New Zealand consumers. A review of the quality of competition in the telecommunications industry is long overdue."