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ASSET: TEL: Telecom Announces Sale of Stake in Macquarie Telecom
02:34p.m.
TEL
29/07/2010
ASSET
REL: 1434 HRS Telecom Corporation of New Zealand Limited (NS)
ASSET: TEL: Telecom Announces Sale of Stake in Macquarie Telecom
STOCK EXCHANGE ANNOUNCEMENT
29 July, 2010
Telecom announces sale of stake in Macquarie Telecom
Telecom has previously advised that it would consider offers in relation to
the AAPT business that are in the best interests of shareholders. Telecom is
currently considering strategic options in respect of these assets.
As part of this review Telecom has today announced the sale of its stake in
Macquarie Telecom for A$9.9m. The carrying value of this investment was
A$9.5 million at 30 June 2010. There are no changes to guidance as a result
of this sale.
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End CA:00197775 For:TEL Type:ASSET Time:2010-07-29:14:34:15
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