Australian telecoms group Vocus has denied press reports that it is close to finalising a deal to sell off its New Zealand business for around AUD250 million (USD197 million), well below its initial valuation of around AUD400 million. News Corp-owned newspaper The Australian had reported that New Zealand utility firm Trustpower had agreed to buy the local units of Vocus – including Slingshot, Flip, Orcon, CallPlus and 2Talk – for AUD250 million. Vocus has played down the speculation, however, saying that it is still in talks with a number of parties. In a statement it added: ‘The New Zealand business is a strong business and [an] attractive asset that will only be sold if it achieves an appropriate return for our shareholders.’