Telecom NZ (ASX:TEL) sells holding in Macquarie Telecom

Telecom NZ (ASX:TEL) sells holding in Macquarie Telecom

Telecom New Zealand (ASX:TEL) has sold its its stake in Macquarie Telecom (ASX:MAQ)for $9.9 million.

The sale has been arranged as part of Telecom New Zealand's plans to possibly sell off Australian unit AAPT. This subsidiary was the owner of the Macquarie Telecom stake.

Telecom said the sale has no impact on guidance, and that the carrying value of the stake was $9.5 million by June 30.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Mergers and acquisitionsTelecommunicationsaaptmacquarie telecomTelecom NZASX:TEL

Show Comments