Telstra NZ? I mean, look at Westpac, it used to be known as WestpacTrust during the merging between Westpac Australia and Trustbank Canterbury.
The feeling that I have, It may eventually be renamed, remodel, refocus and reintroduce to NZ as Telstra NZ, and as mentioned by Mauricio on "Is Vodafone PLC up for grabs now?", I commented that IF this does happen, perhaps TelstraClear will grab it to integrate 3GSM network into their business, since TelstraClear really is just missing one last leg, their own mobile network.
Hmmmm.... could well be possible.