Vocus denies NZ sale rumours

28 Mar 2018

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.’

New Zealand, CallPlus, Vocus Group (incl. Commander, Dodo, iPrimus), Vocus New Zealand (incl. Orcon, Slingshot)