Vodafone agrees to buy TelstraClear in NZ for $840M subject to approvals

Wed, 11 Jul 2012

By Jonathan Underhill July 12 (BusinessDesk) - Vodafone has agreed to acquire Telstra’s New Zealand business, TelstraClear, for $840 million, giving the British company a stronger base from which to challenge Telecom. The deal is subject to approvals from the Commerce Commission, Overseas Investment Office and Ministry of Business, Innovation and Employment, which are expected to take a number of months, Telstra said in a statement to the ASX. Its stock has been halted for the announcement. “The deal is a natural one, bringing together Telst...

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