Feeds

Vodafone NZ swoops on TelstraClear

Goes full service for AUD$660m

Top three mobile application threats

Telstra is shedding its struggling investment in New Zealand, TelstraClear, for $NZ840 million ($AU660 million) to rival Vodafone New Zealand.

In one of the worst-kept corporate secrets in the Kiwi market, the transaction will see Vodafone acquire a robust voice and data network and evolve into a full service carrier to meet the emerging competition from the Ultra Fast Broadband (UFB)network.

As part of the transaction Vodafone NZ will also acquire a significant pool of high end corporate and government customers and TelstraClear’s 50,000 mobile customers.

It will also score TelstraClear’s next egg of 1800MHz and 2100MHz spectrum valued at an estimated NZ$100 million, which may see Vodafone NZ accelerate into 4G services.

Under the deal, Telstra has entered into an agreement with Vodafone NZ to ensure service continuity in New Zealand for its trans-Tasman customers. Telstra CEO David Thodey described the deal as a “natural one” which was consistent with Telstra’s overall strategy and capital management framework outlined in April.

Telstra will also return approximately $NZ490 million ($AU380 million) in cash to Australia via a pre-completion dividend. Which means more cash for offshore acquisitions.

Ovum’s David Kennedy said that the proceeds would most likely be pooled towards acquisitions in emerging markets such as China or elsewhere in Asia.

The sale is contingent on New Zealand regulatory approval, including the New Zealand Commerce Commission, Overseas Investment Office and Ministry of Business, Innovation and Employment, which is expected to take a number of months.

Telstra acquired Clear Communications in 2001 which had been owned by Bell Canada Enterprises, MCI International, Television New Zealand and Todd Corporation Ltd. At the time Telstra was operating in New Zealand as Telstra Saturn a JV with Austar. ®

3 Big data security analytics techniques

More from The Register

next story
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.