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Topic # 105842 12-Jul-2012 10:37 Send private message

Just received:


Telstra will sell TelstraClear, its wholly owned New Zealand subsidiary, to Vodafone New Zealand for NZ$840 million (A$660 million). Telstra will also return approximately NZ$490 million (A$380 million) in cash to Australia via a pre-completion dividend, which is already consolidated in Telstra’s Group results.

Vodafone New Zealand will acquire TelstraClear’s voice and data based services, network infrastructure and New Zealand customer-base.

Telstra’s Chief Executive Officer, David Thodey, said the transaction has a strong strategic rationale and is good for Telstra’s shareholders.

“The deal is a natural one, bringing together TelstraClear’s fixed telecommunications and data products and corporate client-base with Vodafone New Zealand’s mobile offering and retail customer-base,” Mr Thodey said.

“The transaction is consistent with Telstra’s overall strategy and capital management framework that we outlined in April,” he said.

As part of the transaction, Telstra has entered into an agreement with Vodafone New Zealand to ensure service continuity in New Zealand for its trans-Tasman customers.

The sale is contingent on New Zealand regulatory approval, including the New Zealand Commerce Commission, Overseas Investment Office and Ministry of Business, Innovation and Employment, which is expected to take a number of months.

The sale proceeds, when received, will be incremental to Telstra’s previously stated expected three-year excess free cashflow of $2-3 billion (subject to the NBN roll out schedule and market conditions).

Subject to completion adjustments, Telstra will also record an accounting impairment of approximately A$130 million in FY2012, and an additional impairment of approximately A$130 million in FY2013 which is largely due to unrealised foreign currency losses.

Note: Figures are based on an A$ NZ$ conversion of $1.28.





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  Reply # 654384 12-Jul-2012 10:41 Send private message

Please use thread that has already been started http://www.geekzone.co.nz/forums.asp?forumid=44&topicid=105842



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  Reply # 654388 12-Jul-2012 10:47 Send private message

kiwitrc: Please use thread that has already been started http://www.geekzone.co.nz/forums.asp?forumid=44&topicid=105842


You've noticed that by the powers invested I actually created a redirect from one to another before?

Back on topic.







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  Reply # 654389 12-Jul-2012 10:48 Send private message

From TelstraClear:


TelstraClear CEO, Dr Allan Freeth, says the deal represents another period of TelstraClear’s history, growing from a local telco on the Kapiti coast into one that now enjoys an international reputation.

“Our hard working staff should feel extremely proud of what they have achieved.”

The announcement, he says, will not change the quality products and services TelstraClear provides to its customers. “It will be business as usual for all of our customers.”

“The acquisition, if approved, will create a new force in the New Zealand market in readiness for the ultra-fast broadband roll out and will provide customers with a full suite of fixed and wireless telecommunications and data products,” he says.

“We look forward to working with Vodafone New Zealand to continue to provide outstanding service and products to our customers all around New Zealand.”

Dr Freeth says the sale is contingent on the approval of the New Zealand Commerce Commission, the Ministry of Economic Development, and the Overseas Investment Office. This is expected to take some months.





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  Reply # 654392 12-Jul-2012 10:51 Send private message

Laughing

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  Reply # 654393 12-Jul-2012 10:52 Send private message

how big will Voda become in relation to telecom with this acquisition?




Apologies for poor typing standards when on Samsung Galaxy S4 LTE/iPad 2 Wifi

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  Reply # 654395 12-Jul-2012 10:54 Send private message

I am just hoping they sort us TBox customers out with MySky as they surely won't continue with the two, anyone know anything on that?

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  Reply # 654398 12-Jul-2012 10:56 Send private message

I think it's good - greater rival to Telecom and also Vodafone has a far better attitude towards virtually everything than Telstra.







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  Reply # 654400 12-Jul-2012 11:00 Send private message

From Vodafone New Zealand:


The acquisition of TelstraClear will strengthen Vodafone’s portfolio of fixed communications solutions, particularly with business customers, and complement Vodafone’s existing mobile offerings.  Combined, this will allow Vodafone to meet the total communications needs of its customers.

Vodafone New Zealand Chief Executive, Russell Stanners, said the acquisition gives Vodafone a compelling set of products and capabilities for consumers and businesses, which will allow the company to innovate and grow, particularly as fibre rolls out across New Zealand.

“We are delighted with the opportunity to acquire TelstraClear, a company with an outstanding portfolio of fixed solutions supported by an experienced team. The two businesses are very complementary and, when combined, will enhance our ability to meet the communications needs of customers from the Far North to Southland.

“The transaction is expected to create significant cost and capex savings from a combination of the two companies’ networks, commercial operations and administrative functions.  If approved, it will create a new force in the New Zealand market in readiness for the ultra-fast broadband roll out, providing customers with a full suite of fixed and mobile telecommunications products.”

Stanners says Vodafone is committed to continuing to deliver a great customer experience to Vodafone and TelstraClear customers. 

“We are excited by the opportunity to work with the TelstraClear team to deliver an unmatched customer experience and are committed to building on our regional presence – particularly in Christchurch – as part of our overall commitment to the region’s rebuild.”





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  Reply # 654419 12-Jul-2012 11:27 Send private message

VodaClear? TelstraFone? VodaTelstraClear?

How long until they rebrand? They're unlikely to leave the Telstra name in place, since Telstra is a different company.

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  Reply # 654420 12-Jul-2012 11:28 Send private message

BlueShift: VodaClear? TelstraFone? VodaTelstraClear?

How long until they rebrand? They're unlikely to leave the Telstra name in place, since Telstra is a different company.

It'll be Vodafone. It's ALWAYS Vodafone. ;-)

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  Reply # 654421 12-Jul-2012 11:29 Send private message

So, $840,000,000. How much is that per customer?

ETA - Its around $200 per head of NZ population.

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  Reply # 654426 12-Jul-2012 11:33 Send private message

BlueShift: VodaClear? TelstraFone? VodaTelstraClear?

How long until they rebrand? They're unlikely to leave the Telstra name in place, since Telstra is a different company.


They'd probably want to change it quick smart.  Especially if Telstra Australia is looking to buy Telecom




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  Reply # 654444 12-Jul-2012 11:59 Send private message

BlueShift: So, $840,000,000. How much is that per customer?

ETA - Its around $200 per head of NZ population.


TCl have around 200k broadband customers (and a few mobile ones),  although simply looking at price per customer is waaaay oversimplifying the deal.

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  Reply # 654446 12-Jul-2012 12:02 Send private message

langers1972: I am just hoping they sort us TBox customers out with MySky as they surely won't continue with the two, anyone know anything on that?


TelstraClear's IP based playout system is superior in many ways to what Sky have. It represents one of the significant assets that they have, particularly as we enter a UFB world.

I would be worried if I was Sky.


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  Reply # 654447 12-Jul-2012 12:04 Send private message

Shadbolt:
BlueShift: VodaClear? TelstraFone? VodaTelstraClear?

How long until they rebrand? They're unlikely to leave the Telstra name in place, since Telstra is a different company.

It'll be Vodafone. It's ALWAYS Vodafone. ;-)


The new Vodafone catchphrase 

Bye TelstraClear .... Now's Good

Sorry couldn't resist that Innocent ... this is going to be interesting a very very big play by Voda






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