Vodafone has agreed to acquire TelstraClear from Telstra Corporation for NZ$840 million (£430 million, US$664 million) in cash. The deal includes TelstraClear’s voice and data-based services, network infrastructure and New Zealand customer base.
Vodafone New Zealand is already the country’s largest mobile operator with more than 2.4 million customers. TelstraClear owns New Zealand’s second largest fixed infrastructure, which includes a 6,600km fibre backbone connecting 19 of the country’s largest cities. It also includes an extensive local access network with 2,000km of fibre and 4,500km of copper as well as a cable TV and broadband access network passing 150,000 homes in Wellington and Christchurch. Its customer base includes government and large corporations, small and medium enterprises as well as consumers.
Vittorio Colao, Vodafone Group Chief Executive, said: “The proposed transaction offers significant benefits for New Zealand businesses, consumers and the country as a whole. TelstraClear’s infrastructure and capabilities are highly complementary to those of Vodafone New Zealand. The combined business will have the breadth and depth of resources and skills to meet our customers’ long-term integrated communications needs.”
Telstra Chief Executive Officer, David Thodey, says the deal is a natural one, bringing together TelstraClear’s fixed telecommunications and data products and corporate client base with Vodafone New Zealand’s substantial wireless offering and retail customer base.
