TelstraClear sale talks linger on

TOM PULLAR-STRECKER
Last updated 12:34 06/07/2012

Relevant offers

Industries

Business briefs: new casino bosses Liquidator to pay for 'buffoon' comment New Zealand stocks "fair value" Business backs Labour's manufacturing plan Consumers chipper as economy picks up Labour market takes off BNZ names new chief executive Need to know: Thursday April 17 Garden centres snub Easter law Construction prices still rising

Discussions over the possible sale of TelstraClear to Vodafone have entered their second month.

Telstra spokeswoman Nicole McKechnie said the talks were ''still ongoing'' but no agreement had been reached and she did not know when further information might be forthcoming.

Telstra confirmed in statements to the NZX and ASX on June 5 that talks over the sale of TelstraClear were under way.

IDC Research analyst Peter Wise did not believe it was possible to read much into the length of the negotiations.

There was a theory the companies might have wanted to finalise an agreement before the end of the financial year on June 30 ''and do it tidily'', but they were both very complicated businesses, he said.

Analysts have forecast a likely price of about $400 million if the deal proceeds and clearance is obtained from the Commerce Commission.

TelstraClear held its monthly board meeting on Wednesday. Spokesman Gary Bowering said it remained ''business as usual'' for the company.

Ad Feedback

- © Fairfax NZ News

Special offers

Featured Promotions

Sponsored Content