Incumbent Telecom New Zealand has agreed to sell its 60% stake in Telecom Cook Islands, the nation’s only operator, to Jamaica-based Digicel.
The remaining 40% is owned by the Cook Islands government.
Valued at approximately NZ$23m (US$20m), the deal…
Incumbent Telecom New Zealand has agreed to sell its 60% stake in Telecom Cook Islands, the nation’s only operator, to Jamaica-based Digicel.
The remaining 40% is owned by the Cook Islands government.
Valued at approximately NZ$23m (US$20m), the deal is expected to complete by 31 May this year.
Telecom NZ CEO Simon Moutter said the transaction is “consistent with…our desire to focus principally on our New Zealand operations and on the needs of New Zealand customers”.
Late last year, the incumbent sold its Australian wholesale broadband unit AAPT to Sydney-based ISP TPG Telecom for A$450m (US$410m).
