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Stronger Vodafone NZ To Challenge TCNZ

July 2012 | Company News Alert

Vodafone New Zealand (Vodafone NZ) and Telstra announced on July 12 that they have reached an agreement for the sale of TelstraClear to the former for a cash consideration of NZD840mn (US$633mn). BMI reaffirms our view that the transaction is a good deal as Vodafone NZ will be in a better position to compete with Telecom Corporation of New Zealand (TCNZ) on multiple fronts while Telstra will be able to focus on restructuring its main Australian operation.

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