Telstra in talks to sell New Zealand unit TelstraClear to Vodafone
05 Jun 2012
Telstra, the Australian telecommunications and media company, yesterday said that it was in discussions with Vodafone New Zealand over selling its struggling New Zealand unit TelstraClear.
Responding to media reports, the Melbourne-based company said in short release to the Australian Stock Exchange, ''Telstra 'was approached by, and is in discussions with, Vodafone New Zealand to explore the potential sale of Telstra Corp's New Zealand subsidiary, TelstraClear, to Vodafone New Zealand.''
''The talks are continuing and there is no certainty a deal will be reached,'' Telstra company secretary, Damien Coleman said in the release.
Auckland-based TelstraClear has over 2.5 million customers and holds a 16 per cent market share in New Zealand.
The company offers triple-play services of voice, internet and digital TV services for business, government, wholesale and residential sectors.
The company's revenues took a hit and have to spend on rebuilding its network infrastructure in Christchurch, after the devastating earthquake last year.
TelstraClear's revenue in the first half of fiscal 2012 fell 3.8 per cent from a year earlier to A$255 million.