UPDATE Datacom sees no strategy change as NZ Post sells out to NZ Super Fund

Mon, 17 Dec 2012

(Updates to add comment from Datacom CEO, NZ Super Fund) Dec. 17 (BusinessDesk) – Datacom Group, the Wellington-based IT services firm, doesn't envisage any change in its direction after 35 percent shareholder New Zealand Post sold its stake to the New Zealand Superannuation Fund. State-owned postal service NZ Post has sold its share for $142 million, reaping a net gain of $76.4 million. The sale of shares in Datacom “is a move out of necessity given other capital priorities” within the group, according to NZ Post chief executive Brian Roche...

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