Cabletalk sale imminent: directors

Discussions well advanced, company says

Telecommunications services provider Cabletalk says discussions with a potential buyer “have progressed satisfactorily” and that the company’s directors “expect to conclude negotiations within the next week”, according to a statement posted on the NZX.

A further announcement is expected by the end of the week, the company says.

Cabletalk announced last month that it was considering a proposal from an interested party, following the failure of an attempt to sell to Australian firm Service Stream last year.

Cabletalk cites the loss of a contract to provide field services to TelstraClear in the South Island as a reason for putting itself up for sale. The company has suffered a decline in revenue and in the NZX statement last month, announced that it expects to make a loss this financial year.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags TelstraClearcabletalk

Show Comments
[]