Deals
Vodafone Challenges Telecom Dominance With Telstra N.Z. Buy
This article is for subscribers only.
Vodafone Group Plc, the biggest mobile phone operator in New Zealand, agreed to buy Telstra Corp.’s local unit for NZ$840 million ($668 million) as it challenges fixed-line leader Telecom Corp. of New Zealand Ltd.
The agreement includes TelstraClear Ltd.’s voice and data services, network infrastructure and customers in New Zealand, Melbourne-based Telstra said today in a statement. The cash purchase is expected to close before the end of the year subject to regulatory approval, Vodafone said in an e-mailed statement.