Vodafone eyes up Telstra division
Telecoms giant Vodafone has confirmed that it is talking with Australian peer Telstra about buying its New Zealand subsidiary, TelstraClear.
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
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Shein shifts IPO focus to Hong Kong
The development piles fresh pressure on London’s beleaguered stock market, which many had hoped would be boosted by Shein’s IPO
-
Scientists turn lead into gold – could it wreck the yellow metal's price?
Medieval alchemists have been vindicated after scientists turned lead into gold, but the results aren’t going to crash the gold price any time soon