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Macquarie Telecom

Telecom sells Macquarie Telecom stake for $A9.9m

Telecom announced to NZX this afternoon that it had sold its 10% 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.

Start of a bigger clean out?
Telecom bought wholesale specialist PowerTel for $A357 million in 2007, folding the new acquisition into its wholly-owned Australian subsidiary AAPT.