Vodafone offloads NZ business to Brookfield, Infratil

File: Vodafone's New Zealand deal, which Infratil describes as strategically compelling, is valued at NZ$3.4-billion.WELLINGTON - Vodafone Group Plc on Monday agreed to sell its New Zealand business for NZ$3.4-billion to a consortium comprising of New

The deal comes a day after dairy group Fonterra sold its New Zealand Tip Top ice cream business to an overseas buyer, a sale which was criticised as being against national interests.Vodafone is looking to consolidate its businesses in Australia and New Zealand, with an $11 billion deal underway to merge its Australian joint venture business with TPG Telecom.The telecoms firm, in 2017, had tried to sell Vodafone NZ to Sky Network Television for NZ$3.

"An important aspect of our strategy is the active management of our portfolio and deleveraging, which this transaction further demonstrates," Nick Read, chief executive of Vodafone Group, said in a statement. Vodafone New Zealand, one of the largest mobile operators in the country, has about two million mobile customers, compared to about 700 million for parent Vodafone Group as of Dec. 31, 2018.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Antitrust watchdog blocks $11bn merger of Vodafone’s Australian business with TPG TelecomCompetition commission says deal would reduce rivalry in cellphone and fibre markets
Source: BDliveSA - 🏆 12. / 63 Read more »

Many big businesses treat SMEs as a line of credit, Small Business Institute saysSmall and medium enterprises are urged to claim interest and debt recovery costs for late payments Don’t understand why invoices are being paid more than 30 days later...especially when the institution requested urgent delivery and we complied within days. Totally unacceptable, small business is not sustainable when payment is not forthcoming...
Source: BDliveSA - 🏆 12. / 63 Read more »

Elections boost business confidence | IOL Business ReportThe incoming administration is set to inherit improved business confidence after sentiment rose in April for the first time since January in anticipation of a more stable post-election policy environment. busrep busrep You are as gullible as the 30percenters
Source: IOL - 🏆 46. / 51 Read more »

Business Maverick: China Threatens Retaliation as Trump Touts Chances of DealThe U.S. and China sent conflicting signals over trade, with President Donald Trump expressing optimism about the prospect of a deal and Beijing warning that it will retaliate if the U.S. follows through on a threat to hike tariffs.
Source: dailymaverick - 🏆 3. / 84 Read more »

From the township economy to Nedbank’s R780m score: In BusinessIn City Press business today: It's all about the township economy. Read what traders in Alexandra and Soweto feel about foreign competition and malls. How Nedbank made a quick R780m from fixing interest rates on a Transnet loan.
Source: City_Press - 🏆 7. / 72 Read more »

'Mind your own business' - Babes claps back at outrage over Mampintsha romanceBabes Wodumo has told one of her followers on Instagram to mind their own business on the Mampintsha issue. Umgwinyo and Mercedes(drugs) is killin this girl Jmolmolapo 🤦🏾‍♀️🤦🏾‍♀️ Now people must mind their money not buy the music of Babes and Mampintsha .
Source: TimesLIVE - 🏆 28. / 59 Read more »

Business Maverick: Ghosn’s Successor Tied to Short Leash as Nissan Profit PlummetsCarlos Ghosn’s arrest threw Nissan Motor Co. into a corporate tailspin with allegations of self-dealing, profligate spending and filing false statements. Now the automaker’s profits are falling off a cliff, and successor Hiroto Saikawa may go down with them.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Property Slowdown Beckons as Next Risk for Emerging MarketsAs growth worries and trade war jitters threaten to spoil any rebound for emerging markets in 2019, property markets are shaping up as a critical element to monitor for further signs of gloom.
Source: dailymaverick - 🏆 3. / 84 Read more »