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Vodafone completes sale of New Zealand unit for NZD 3.4 bln

2019-07-31 09:56:00| Telecompaper Headlines

(Telecompaper) Vodafone Group has completed the sale of Vodafone New Zealand to a consortium comprising Infratil and Brookfield Asset Management for a cash consideration equivalent to an enterprise value of NZD 3.4 billion (approximately EUR 2.1 billion). Proceeds from the sale will be used to reduce Vodafone's net debt, the company said. Vodafone and Vodafone New Zealand have now entered into a partner market agreement, which includes use of the Vodafone brand, preferential roaming arrangements, access to Vodafone's global IoT platform and central procurement function, and a range of services for the business and consumer markets.

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Category:Telecommunications

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