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Broadband

Telecom NZ sells part of AAPT, stake in Macquarie Telecom

Friday 30 July 2010 | 08:23 CET | News
Telecom New Zealand will sell the consumer division of Australian unit AAPT to Australian ISP iiNet for AUD 60 million. The transaction is subject to iiNet shareholder and customary regulatory approvals. Telecom currently estimates the transaction will have a net negative impact on AAPT's FY 2011 EBITDA of around AUD 10 million. Telecom also announced that is has sold its 18.2 percent stake in iiNet to institutional and sophisticated investors for approximately AUD 70 million. The carrying value of this investment was AUD 81 million at 30 June. Furthermore, the company sold its stake in

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Categories: Fixed
Companies: AAPT / iiNet / Macquarie Telecom / Telecom New Zealand
Countries: Australia / New Zealand
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