TelstraClear sale talks linger on

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

Relevant offers

Industries

Hillend managers won't face charges after smoky burnoff on Sam Morgan property Air New Zealand ends Christchurch Tokyo flights Supermarkets stay vigilant over 1080 baby formula threat Kirkcaldie & Stains appoints Philip Shewell as acting CEO Logging firm Waimea Contract Carriers calls in administrators Proposed Wellington air control tower to lean into wind Shopping laws rile retailers Fire crews contain ammonia spill at Port of Timaru High trade volumes lift port's profits Gravel-diggers land-banking Christchurch supply - claims

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

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content