Friday 20th December 2013
|Text too small?|
Telecom Corp, New Zealand's biggest telecommunications company, is considering selling its 60 percent stake in its Telecom Cook Islands joint venture.
No decision has been made yet on whether to proceed, Auckland-based Telecom said in a statement.
Telecom has operated the joint venture with the Cook Islands government since July 1991 and paid $3 million to increase its stake from 40 percent in July 1997. The Cook Islands venture is the largest provider of fixed-line phone, mobile and broadband services in the country.
The company this month sold its AAPT unit in Australia to ASX-listed TPG Telecom for A$450 million.
The shares climbed 2.6 percent to $2.35 yesterday, and have eked out a 3.3 percent lift this year.
No comments yet
NZ dollar rises as US-China trade, Brexit tensions ease
SkyCity shares hit 7-week low as fire encapsulates convention centre
Wrightson showcases Fruitfed Supplies as horticulture stands out
Fonterra rivals fear dairy giant will get leg up from law overhaul
Wellington Drive remains in the black as it raises operating forecast
OMV plans further maintenance at Pohokura
Sky continues sports drive with extension to netball rights
Apple's asset-shuffling puts $270m value on PowerbyProxi
Fonterra lifts payout forecast on improving global dairy prices
22nd October 2019 Morning Report