TeamTalk shareholders back sale of Farmside to Vodafone, killing Spark offer

Wed, 12 Apr 2017

By Paul McBeth April 12 (BusinessDesk) - TeamTalk shareholders overwhelmingly back a deal to sell a controlling stake in rural broadband unit Farmside to Vodafone New Zealand, effectively rejecting a takeover by Spark New Zealand. Wellington-based TeamTalk asked shareholders to approve a deal where Vodafone would pay $10 million for a 70 percent stake in Farmside, with an option to buy the remaining 30 percent holding for $3 million, valuing the unit at a premium to independent adviser Grant Samuel's view. At a special meeting in Welling...

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