Vodafone To Pay $662M For Telstra's New Zealand Unit

Law360, New York (July 12, 2012, 1:55 PM EDT) -- A Vodafone Group PLC subsidiary has agreed to scoop up the New Zealand arm of Telstra Corp. Ltd. for 840 million New Zealand dollars ($661.5 million), the companies announced Thursday, in a move that brings together two of the country's largest phone operators.

The all-cash deal gives Vodafone New Zealand, the area's largest mobile operator, with 2.4 million customers, all of TelstraClear's network infrastructure, voice and data services and customers in New Zealand. Telstra is the country's second largest fixed operator, with a client base heavy...
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