Vodafone completes TelstraClear acquisition

Vodafone New Zealand has today completed its acquisition of TelstraClear for a cash consideration of NZ$840 million.

The transaction, which was announced on 12 July 2012, received final regulatory approval yesterday and was completed today.

“We can now start bringing the businesses together and releasing the potential for our customers," says Russell Stanners, Vodafone NZ CEO.

"Our combined strength in both mobile and broadband means we can help our customers do their thing better – whether that’s mobile services, broadband, pay TV or sophisticated ICT services across New Zealand.

“Vodafone and TelstraClear are now one business, operating as separate business units, with a strong focus on continuing to deliver a great experience to Vodafone and TelstraClear customers.”

Vodafone will be communicating with customers from both companies over the coming weeks to provide more information.