Business

Telstra backs out of NZ market

AUSTRALIAN telecommunications giant Telstra will pull out of New Zealand, following the sale of TelstraClear to Vodafone NZ for AU$660 million.

Telstra has announced to the Australian Securities Exchange (ASX) that it will sell its wholly owned New Zealand telecommunications subsidy to Vodafone in a deal that will see the telco return approximately AU$381.55 million in cash back to Australia via a pre-completion dividend.

Telstra responded to rumours last month, confirming that it was considering selling TelstraClear.

TelstraClear owns hybrid-fibre coaxial (HFC) networks in Kapiti, Wellington and Christchurch, but also currently wholesales 3G mobile services from Vodafone in a deal signed back in 2009, which was scheduled to expire this year.

Read more at ZDNet.com.au

Topics:  telecommunications, telstra




Join the Community.

Get your local news, your way.

Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Sandy Creek crash

KART ACTION: Karts flying at Sandy Creek Raceway today

Kart rollover at Sandy Creek

NICK Hobbs came to karting relatively late by today’s

Nick Hobbs and his Hobbsdrive team, mechanic Mikey Dwan and father Allan Hobbs.

Warwick driver Nick Hobbs taking karting to the next level

Latest deals and offers


Tom works out

The Voyage Fitness crew help Tom hardy with his workout.

RACQ releases SE Qld's worst choke points

Paul Turner, RACQ

Paul Turner from RACQ talks about our worst roads at peak time.

British family bashed in Thailand

Family beaten and kicked unconscious by gang in Thailand.

Family beaten and kicked unconscious by gang in Thailand.

Mayor: confidence is key to filling empty shops

Former Destination Southern Downs business implementation manager Tracy Dobie has announced she will be running for Mayor. Photo Contributed

Dobie to lead economic development committee

Warwick commercial property market in ‘decline’

The old Mango camping store on Albion St is for sale/lease at the moment. It's been empty since late February after housing the camping business for 10 years.

Business confidence affects commercial property sales

Demand for acreage lots pushes up property prices

Property values in Cooroy have increased 25%

Property values jump in Cooroy and Peachester.