TeamTalk to sell controlling stake in Farmside to Vodafone as Spark circles

Thu, 23 Mar 2017

By Paul McBeth March 24 (BusinessDesk) - Unprofitable telecommunications minnow TeamTalk plans to sell a 70 percent stake in its problematic Farmside rural internet services provider to Vodafone New Zealand for $10 million, almost half what Spark New Zealand is willing to pay for the entire group. Wellington-based TeamTalk today said it's reached an agreement with the county's second-biggest broadband provider to sell a 70 percent stake in Farmside for $10 million in cash, with an option to buy the remaining 30 percent for $3 million at...

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