Vodafone New Zealand Receives Regulatory Approval For Its Acquisition of TelstraClear
October 29 2012 - 5:08PM
Dow Jones News
By Rebecca Howard
WELLINGTON--Vodafone New Zealand Ltd., a unit of Vodafone Group
(VOD), said Tuesday that it has been granted all regulatory
approvals required for its 840 million New Zealand dollar (US$688
million) acquisition of TelstraClear Ltd., a unit of Telstra Corp.
(TLS.AU).
The acquisition, announced in July, has been approved by the
Commerce Commission and the Overseas Investment Office. Vodafone
expects to complete the transaction on Oct. 31.
Vodafone New Zealand is the largest mobile operator in New
Zealand with more than 2.4 million customers. TelstraClear is one
of New Zealand's largest full-service communications companies.
Write to Rebecca Howard at rebecca.howard@wsj.com
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