Telecom New Zealand (ASX:TEL) has sold its its stake in Macquarie Telecom (ASX:MAQ)for $9.9 million.
The sale has been arranged as part of Telecom New Zealand's plans to possibly sell off Australian unit AAPT. This subsidiary was the owner of the Macquarie Telecom stake.
Telecom said the sale has no impact on guidance, and that the carrying value of the stake was $9.5 million by June 30.
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