Menu
Telecom NZ to sell Cook Islands stake to Digicel for $NZ23m

Telecom NZ to sell Cook Islands stake to Digicel for $NZ23m

Part of telco’s move to stay NZ-focused

Telecom will sell its 60 per cent stake in Telecom Cook Islands to Digicel for about $NZ23 million.

Digicel is a Jamaican network provider which has a presence in 31 countries. The company’s Oceanic arm, Digicel Pacific, operates in Vanuatu, Samoa, Papua New Guinea, Tonga, Fiji and Nauru.

The deal is expected to be completed by May 31, 2014, subject to “a number of conditions” which Telecom did not disclose.

According to a statement from Telecom, the move is in line with the company’s goal of becoming an NZ-specific telecommunications, entertainment, and IT services provider.

In late February, Telecom completed its $NZ481.29m sale of AAPT to TPG Telecom.

Both sales follow Telecom’s decision to undergo a major rebrand which will see it become Spark later this year, with its Gen-i and Digital Ventures units to be renamed Spark Digital Solutions and Spark Ventures, respectively.

The rebranding was announced at its financials briefing during which it revealed a net profit after taxes (NPAT) of $NZ147m (excluding discontinued operations) for the first half of fiscal 2014, ended December 31, 2013.

RELATED:

Follow Us

Join the New Zealand Reseller News newsletter!

Error: Please check your email address.

Tags Cook IslandsacquisitiontelecomTelcodigicelTelecommunications

Slideshows

Top 50 defining moments of the New Zealand channel in 2016

Top 50 defining moments of the New Zealand channel in 2016

Reseller News looks back on a tumultuous 12 months for the New Zealand channel, assessing the fallout from a year of sizeable industry change. Whether it be local or global mergers and acquisitions, distribution deals or job changes, the channel that started the year differs somewhat to the one set to finish it - Reseller News assesses the key moments that made 2016.​

Top 50 defining moments of the New Zealand channel in 2016
​Hewlett Packard Enterprise honours high achieving NZ channel

​Hewlett Packard Enterprise honours high achieving NZ channel

Hewlett Packard Enterprise honoured its top performing Kiwi partners at the second running of its HPE Partner Awards in New Zealand, held at a glitzy ceremony in Auckland. Recognising excellence across eight categories - from distributors to resellers - the tech giant celebrated its first year as a standalone company, following its official split from HP in 2015.

​Hewlett Packard Enterprise honours high achieving NZ channel
Nutanix treats channel partners to Christmas cruise

Nutanix treats channel partners to Christmas cruise

Nutanix recently took to the seas for a Christmas Cruise around Sydney Harbour with its Australia and New Zealand staff, customers and partners to celebrate a stellar year for the vendor. With the sun out, they were all smiles and mingled over drinks and food.

Nutanix treats channel partners to Christmas cruise
Show Comments