Nine left up to A$5.8M in Stuff after fibre sale to Vocus

Wed, 19 Aug 2020

Vocus Group paid A$7.7 million to boost its broadband customer numbers by 20,000 when it snapped up Stuff Fibre earlier this year. The sale took place in the run-up to Stuff chief executive Sinead Boucher buying the New Zealand media group and its ongoing liabilities for $1. Today's disclosure of the sale price by Vocus means that up to A$5.8 million - approximately $6.4 million at current exchange rates - was left in the Stuff business as vendor finance by its former owner, Sydney-based Nine Entertainment. Nine said at the time of the...

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