TelstraClear Sells Spectrum to Vodafone

date: March 16, 2002

TelstraClear and Vodafone NZ announced that Vodafone has purchased the Management Rights for 5 MHz of 3G mobile spectrum from TelstraClear.

This spectrum is adjacent to Vodafone's existing 3G Management Rights, and can be used for high-bandwidth, next generation mobile services such as high-speed data and video. TelstraClear's divestment was required because the TelstraSaturn-CLEAR Communications merger last December left the company owning more than the legally allowable amount.

"The purchase is a good example of the two companies working together to benefit customers. Our relationship with Vodafone has allowed us to complete sale arrangements speedily. The deal leaves TelstraClear with 15 MHz of 3G," TelstraClear's Chief Executive, Rosemary Howard, said.

Vodafone Managing Director Tim Miles said, "this is an indication of the mutually beneficial partnership we have with TelstraClear. The extra spectrum will be increasingly important as Vodafone moves into 3G applications over the coming years, and represents the company's ongoing commitment to the New Zealand market.

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