Telecom sells
Telecom Cook Islands
stake to Digicel
3 April 2014
Telecom New Zealand
is continuing its
sell-off of overseas
assets, entering
into an agreement to
offload its 60%
interest in Telecom
Cook Islands, the
incumbent provider
in the Cook Islands,
for approximately
NZ$23 million to
Digicel. The
agreement is
expected to be
completed by 31 May
2014.
Telecom started
selling its overseas
interests last year,
most notably its
sale of AAPT in the
second half of 2013
to TPG. It had
announced at its
investor strategy
day in May 2013 that
its strategic
ambition was to
become a growing New
Zealand company
focussed on
communication,
entertainment and IT
services.
“The sale of Telecom
Cook Islands is
consistent with this
strategy and with
our desire to focus
principally on our
New Zealand
operations and on
the needs of New
Zealand customers,”
said Telecom CEO
Simon Moutter. The
remaining stake in
Telecom Cook Islands
is owned by the Cook
Islands Government.
New partner Digicel
already has existing
assets in the
Pacific region,
including Fiji,
Nauru, Papua New
Guinea, Samoa, Tonga
and Vanuatu.
Geoff Long, Commsday
