Telecoms giant Vodafone has confirmed that it is talking with Australian peer Telstra about buying its New Zealand subsidiary, TelstraClear.
The division was first created in 2001 through the combination of Telstra unit TelstraSaturn and BT's Clear Communications; it is now one of New Zealand's biggest full-services telecommunications groups and has around 300,000 customers.
According to the Financial Times, the deal could be worth around A$300-400m, or £191-255m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"Discussions are continuing and there is no certainty as to whether an agreement will be reached. A further announcement will be made in due course, if appropriate," the firm announced on Wednesday.
BC
-
Who is the richest person in the world?The top five richest people in the world have a combined net worth of $825 billion. Who takes the crown for the richest person in the world?
-
Top 10 stocks with highest growth over past decade - from Nvidia, Microsoft to Netflix, which companies made you the most money?
We reveal the 10 global companies with the biggest returns since 2013. One firm has posted an astonishing 9,870% return, meaning a £1,000 investment would now be worth almost £82,000.
