The New Zealand Post Office was a New Zealand government department until 1 April 1987. At that date, the department was abolished under the Postal Services Act 1987 , and three state-owned enterprises (SOEs) -- New Zealand Post Limited, Telecom Corporation of New Zealand Limited (Telecom) and Post Office Savings Bank Limited (PostBank) -- were formed.
Of these, due to privatisation, only New Zealand Post remains as an SOE. Telecom was sold to two United States baby bells, and PostBank was sold to the Pacific banking conglomerate ANZ. The PostBank brand was phased out in the mid-1990s.
Later on, as per the conditions of Telecom's privatisation, it was floated in the early 1990s on the New Zealand Stock Exchange .