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Spark NZ set to sell international voice business for NZ$22m

Spark NZ set to sell international voice business for NZ$22m

Telco enters into an agreement to sell its international voice business to My Net Fone Limited for NZ$22 million.

Spark New Zealand has entered into an agreement to sell its international voice business to My Net Fone Limited for NZ$22 million.

The international voice business has forecast EBITDA of approximately NZ$3-4 million per annum while Spark New Zealand will retain its international data business.

"This divestment is in line with Spark New Zealand’s strategy to focus principally on its New Zealand operations and its ambition to become a winning business, inspired by customers to unleash the potential in all New Zealanders," a company statement on the New Zealand Stock Exchange reveals.

The non-US aspects of the transaction are expected to complete during April 2015, with the US aspects to complete following receipt of US government approvals.

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