Australia's Telstra Corp. Ltd. (TLS.AX, TLSYY.PK) announced that it is talks with Vodafone over the possible sale of its TelstraClear unit in New Zealand.
Telstra was approached by, and is in discussions with, Vodafone New Zealand to explore the potential sale of Telstra Corp's New Zealand subsidiary, TelstraClear, to Vodafone New Zealand, Telstra company secretary Damien Coleman stated.
The talks are continuing and there is no certainty a deal will be reached, the company said in a statement to the Australian stock exchange.
Vodafone New Zealand is a subsidiary of the UK's Vodafone Group PLC (VOD, VOD.L).
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