TeamTalk sells remaining Farmside stake to Vodafone for $3 mln

Tue, 15 May 2018

By Paul McBeth May 16 (BusinessDesk) - TeamTalk, the Wellington-based telecommunications minnow, has sold its remaining 30 percent stake in rural broadband division Farmside to Vodafone New Zealand for $3 million, after the country's biggest mobile operator exercised an option to mop up the rest of the business. TeamTalk received $13 million from the sale of BayCity Communications, trading as Farmside, having initially sold a 70 percent interest to Vodafone last year. That was a premium to the $9.6 million-to-$12 million range placed on...

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