Telecom today purchased a 12.12 per cent shareholding in Sky Network Television Ltd.
Telecom purchased 46.74 million shares in Sky from Tappenden Holdings Ltd at a price of $4.12 per share. The total price
paid by Telecom was $192.6 million
Chief Executive Theresa Gattung said the shareholding would support the ongoing development of the business relationship
between Telecom and Sky.
“Our investment in Sky supports Telecom’s transformation into an online and communications group, at the forefront of
convergence in Australasia,” Ms Gattung said.
“We are forming strong relationships with other key players in dynamic markets for communications, information and
entertainment services,” she said.