(MENAFN) Vodafone has signed a deal to sell its New Zealand company Vodafone NZ for USD2.24 billion to an association comprising Infratil and Canadian investment firm Brookfield Asset Management.
According to Vodafone, the business would be allowed to continue to use the Vodafone brand and would have "preferential access" to its networks overseas, which would allow customers to roam on its network when travelling, under a partnership agreement.
CEO of Vodafone Group said the transaction demonstrated as an important feature of the company's strategy that is the active management of the company's portfolio and deleveraging.
"We have always been proud of our Vodafone New Zealand business, which has a great team, and we look forward to a continued close relationship through our Partner Market agreement," he added.
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