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Telecom completes sale of consumer division of AAPT

Fuseworks Media
Fuseworks Media

Wellington, Sept 30 NZPA - Telecom Corp of New Zealand Ltd said the sale of AAPT's consumer division to iiNet Ltd (iiNet) for $A60 million ($NZ79 million) has been completed.

Telecom said the sale helped rationalise Telecom's non-core assets in Australia and allowed management to focus on its network-centric wholesale and corporate businesses.

"We believe that AAPT will be well positioned for future growth through focus on its core strengths, which include operating its nation-wide network," said chief executive Paul Reynolds.

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