TelstraClear, the Telstra NZ subsidiary and full service telco, adds to Vodafone's play against market leader Telecom New Zealand.
The deal is reportedly worth AUD$660 million or NZD$840 million, and will see TelstraClear's data and voice services, customers and infrastructure.
David Thodey, CEO of Telstra, said: "The deal is a natural one, bringing together TelstraClear's fixed telecommunications and data products and corporate client-base with Vodafone New Zealand's mobile offering and retail customer base."
It is uncertain what this will mean for Clear Net's games channel, which is funded by TelstraClear, although a lack of a similar gaming service from Vodafone could tip the odds of survival in its favour.
Dr Allan Freeth, CEO of TelstraClear, told the NZ Herald: "The acquisition, if approved, will create a new force in the New Zealand market in readiness for the ultra-fast broadband roll out and will provide customers with a full suite of fixed and wireless telecommunications and data products."
Paul Brislen, head of the Telecommunications Users Association, added: "With TelstraClear's network behind it, we will start to see some real competition, I would hope. We don't want to see a cosy duopoly where both of them just sit back and carve up the market."
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