TURNAROUND CHALLENGEįew in the market expect Vodafone’s strengthened position will immediately shake Telecom’s market dominance, given TelstraClear’s weak position and declining revenue, which sagged 3.8 percent in the six months to December. Telecom TEL.NZ shares rose 2.2 percent on Thursday, recovering from an initial dip. Vodafone mobile coverage and Rural Broadband comes to Stewart Island 5 June 2014 MEDIA RELEASE - Vodafone will switch on its services at a new cell site on Stewart Island this week part of the Government’s Rural Broadband Initiative (RBI) bringing Vodafone mobile coverage and wireless broadband to locals and visitors for the first time. Telstra shares rose to a 3 1/2-year high of A$3.89 after the announcement before turning lower to end down 0.3 percent. Our mobile broadband solution has over 90 4G population coverage. Plug and play Simply plug our mobile modem in and have instant internet access. Our 4G network has been awarded ‘Best in Test’ for Data by umlaut, 6 years in a row. Vodafone will also be better able to compete with Telecom in buying access to ultra-fast broadband, which is expected to be rolled out in New Zealand by 2019. Vodafone Mobile Broadband is a superb choice if you have a good phone signal where you live. Telecom currently controls just over half of that market. It will give Vodafone, which competes with Telecom in New Zealand’s mobile market where both hold a 40 to 50 percent share, a stronger foothold in fixed-line services with around 30 percent of the fixed-line broadband market.
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The deal also cuts Telstra free from the revenue-poor asset and opens the door to a possible takeover of Telecom TEL.NZ down the line by its Australian counterpart, as the New Zealand company faces the daunting task of expanding in an already mature market. Under the sale, Vodafone New Zealand said it will acquire TelstraClear’s fixed-line and Internet operations, which hold only 16 percent of New Zealand’s broadband market but will now have the muscle to compete head-on with much larger Telecom.
WELLINGTON (Reuters) - Australia's Telstra TLS.AX will sell its struggling New Zealand operations to British mobile operator Vodafone in a NZ$840 million ($670 million) deal, threatening Telecom New Zealand's dominance and potentially making it a future takeover target.
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