Telecom Corp [NZX: TEL] is considering selling its 60 percent stake in its Telecom Cook Islands joint venture.
No decision has been made yet on whether to proceed, Auckland-based Telecom said in a statement.
Telecom has operated the joint venture with the Cook Islands government since July 1991 and paid $3 million to increase its stake from 40 percent in July 1997. The Cook Islands venture is the largest provider of fixed-line phone, mobile and broadband services in the country.
The company this month sold its AAPT unit in Australia to ASX-listed TPG Telecom for A$450 million.
The shares climbed 2.6 percent to $2.35 yesterday, and have eked out a 3.3 percent lift this year.
(BusinessDesk)
Tina Morrison
Wed, 11 Jul 2018
Wed, 11 Jul 2018
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Telecom mulls sale of stake in Cook Islands joint venture
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