Telstra Tries To Cut Aquisition Deal With Vodafone

Telstra has confirmed it is in discussions with Vodafone over a possible sale of its New Zealand subsidiary, TelstraClear.Telstra has confirmed it is in discussions with Vodafone over a possible sale of its New Zealand subsidiary, TelstraClear.

“Telstra was approached by, and is in discussions with, Vodafone New Zealand to explore the potential sale of Telstra Corporation’s New Zealand subsidiary, TelstraClear, to Vodafone New Zealand,” the telco said in a statement to the ASX.

“Discussions are continuing and there is no certainty as to whether an agreement will be reached.”

TelstraClear is New Zealand’s second-largest telecommunications company with around 400,000 customers. Last year it generated $84 million in 2011 EBITDA, on revenues of $516 million.