TelstraClear Purchase
In July 2012 Vodafone NZ approached Telstra to purchase TelstraClear for a payment of $840 million and $450 million that TelstraClear has in its accounts. On 30 October the Commerce Commission approved the takeover bid, and on 31 October the sale was completed. Vodafone plans to keep TelstraClear running as a side entity for at least six months then merge together more. No date has been set for the closedown of the TelstraClear brand.
Read more about this topic: Vodafone New Zealand
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