Telstra sold their NZ bound operations to Vodafona

Australia based Telstra announced on Thursday that it would sell their New Zealand bound operations to Mobile Giant Vodafone. Per Telstra Vodafone can compete easily with the nation's (NZ) dominant telecommunication company Telecom New Zealand.

The deal was said to be finalized in $670 millions.

After this deal Telstra's NZ based fixed telecommunications and data products would be added to Vodafone New Zealand's mobile offering and retail customer base.This take over would give Vodafone a roughly 30 percent of New Zealand's broadband market, that has been largely confined to just mobile services till now.

This would give a good competition to Telecom New Zealand and may be making it as next potential target for take over??

-CB