20 Dec 2013

Telecom mulls sale of Cook Islands venture

11:22 am on 20 December 2013

Telecom is thinking about getting out of a joint venture venture in the Cook Islands, in which it has a 60% stake.

No decision has been made yet on whether to proceed, the company said in a statement.

AAP reports Telecom has operated the joint venture with the Cook Islands government since July 1991 and paid $3 million to increase its stake from 40% in July 1997.

The company this month sold its AAPT unit in Australia to TPG Telecom for $A450 million.

Its shares climbed 2.6% to $2.35 on Thursday.