The regulator has postponed its decision on Vodafone New Zealand’s purchase of Telstraclear until next week.
The New Zealand Commerce Commission was meant to give its ruling today on the telco’s acquisition of local fixed-line and IT services…
The regulator has postponed its decision on Vodafone New Zealand’s purchase of Telstraclear until next week.
The New Zealand Commerce Commission was meant to give its ruling today on the telco’s acquisition of local fixed-line and IT services provider TelstraClear, but this is now scheduled for 30 October, according to an announcement on its website.
TelecomFinance reported the proposed NZ$840m (US$663m) deal back in July, which Vodafone NZ said would make them “ideally positioned to capture the benefits of the structural changes underway in the New Zealand market.”
Vodafone NZ hired UBS to advise on the transaction, while New Zealand’s Bell Gully provided legal advice.
Under the terms of the deal, Vodafone NZ, controlled by British telco Vodafone, will acquire TelstraClear’s voice- and data-based services, network infrastructure and New Zealand customer base. TelstraClear also operates an MVNO. It used to provide services on the Telecom New Zealand network but is now on the Vodafone network.
