Vodafone has sold its New Zealand arm for the cash equivalent of $3.4 billion to a consortium comprising Infratil and Canadian firm Brookfield Asset Management. The deal with Infratil is subject to regulatory approvals and completion is anticipated during Vodafone Group's 2020 financial year, it said. "We have always been proud of our Vodafone New Zealand business, which has a great team, and we look forward to a continued close relationship through our partner market agreement." Vodafone NZ by the numbersFor 2017 (its most recently reported financial year), Vodafone NZ made a profit of $57.5 million, turning around a loss of $18.3m. In fixed-line broadband, Vodafone NZ has around 430,000 customers, putting it second behind Spark (around 670,000) and well ahead of third-placed Vocus (around 200,000).

Source: Otago Daily Times May 13, 2019 20:15 UTC