iTWire - Gov't gives the OK to Telecom NZ's Powertel bid

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Gov't gives the OK to Telecom NZ's Powertel bid

Stuart Corner
Sunday, 25 March 2007 10:20

IT Industry - Deals

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Telecom New Zealand says its has received confirmation from the Australian Federal Treasurer that the Australian Government has no objections to its proposed acquisition of PowerTel.

Telecom New Zealand announced in January plans to acquire 100 percent of PowerTel for $A357 million. http://www.itwire.com.au/content/view/9069/127/ It had foreshadowed the deal last November when it announced a wholesale agreement http://www.itwire.com.au/content/view/6850/127/ between PowerTel and its Australian subsidiary, AAPT. However the value of PowerTel has increased substantially since then.

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