Vodafone eyes TelstraClear

(MENAFN) Vodafone is currently in talks with TelstraClear, an Australian telecommunications company to buy their New Zealand business operation in a deal worth approximately USD291-389, reported the Financial Times. Both Vodafone and TelstraClear have said that no agreement has been reached yet and that they are still in talks.The UK-based Telecom Company Vodafone said that an announcement will be made if they reach an agreement. TelstraClear is New Zealand's second largest telecom company serving approximately 300,000 people. The company is looking to cut operating costs after Christchurch, New Zealand's largest city was hit by a massive earthquake in 2011.