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.