GDC expected to sell voice division

GDC puts halt on trading of its shares pending announcement

OneSource is understood to be negotiating with GDC regarding buying GDC’s voice services unit.

GDC announced to the New Zealand Stock Exchange this morning that trading in GDC shares will be halted until Tuesday, “pending the outcome of negotiations for the divestment of one of the company’s three operating divisions”.

The second paragraph of the NZX announcement hints at which division it is, noting “the reasons for the request are that directors are aware of rumour and speculation in the marketplace regarding possible purchasers for the voice sales division of the company and the company’s prospects generally”.

In December GDC laid off 27 Auckland-based staff, a quarter of its headcount in the region.

OneSource chief executive Evan Johnson wouldn’t comment this afternoon, deferring making a statement until next week. GDC’s NZX announcement notes that a further announcement by GDC will be made on Tuesday.

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