The telecommunications industry has barely had time to digest news of Vodafone NZ's sale, but another shake-up could be in the works as the Commerce Commission releases a key report today.

'Disgraceful. They've missed the mark massively' - telco on ComCom report

The watchdog will deliver the preliminary findings of its study into mobile market competition, which has been nearly 18 months in the making.

Previous studies have proved the precursors to major regulatory changes designed to boost competition - including a decision to slash the fees telcos can charge each other when calls cross between their networks,