Yahoo! collaborating with New Zealand Telecom

New Zealand Telecom has said in a statement that they are forming a joint venture with search engine company Yahoo! and Australia’s Seven Network.

The three companies would work on enhancing the services provided by their Internet portal Xtra.

New Zealand Telecom would have a 49% stake in this joint venture. Yahoo! and Seven would be holding the rest of the stake.

Telecom Chief Executive Theresa Gattung spoke on this development: “The Yahoo Xtra joint venture will provide New Zealanders with access to the world’s best online services in a localized way.”

Yahoo!Xtra is now scheduled to launch around March 1, 2007. It would offer services including e-mail, enhanced spam and virus protection services, online photo sharing, localized news and Internet radio.