BGN Entrepreneur

Australia’s biggest telecommunications company Telstra has sold its New Zealand subsidiary of Vodafone for 840 New Zealand dollars ($ 668m, £ 431m).
Vodafone New Zealand would win TelstraClear’s network infrastructure, voice and data-based services, and all his customers out of business. The acquisition is subject to regulatory approval. Analysts said the move would create a more competitive market in New Zealand. Both companies informs the dominant player Telecom in terms of market share, which has about 50% of the telecommunications market. The deal had been expected after Vodafone approached about a possible sale of Telstra, TelstraClear last month.

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