The Vocus Group has refused to confirm a report that it is set to sell its New Zealand business to NZ power and Internet provider Trustpower for about $250 million.
A report in The Australian claimed that the sale would be for much less than the $400 million which Vocus had claimed the business was worth.
In response, Vocus said in a notice to the Australian Stock Exchange on Tuesday that it had already announced in October last year that it was readying its New Zealand business for sale.
In an investor update at that time, the company said its board was targeting a completion of the sale by the end of the financial year 2018.
{loadposition sam08}It also said advisers had been appointed to look after the sale of its Australian data centre assets and the sale of assets was aimed at reducing the group's debt.
In Tuesday's notice, Vocus said: "While it is not Vocus' policy to comment on speculation, Vocus confirms that, as stated in its interim results release on 20 February, the sale process is progressing to the planned timeline with target completion by June 2018 (subject to regulatory approvals, if required).
"Vocus is in discussion with a number of parties and has made no comment on the value of the assets.
"The New Zealand business is a strong business and attractive asset that will only be sold if it achieves an appropriate return for our shareholders.
"Further, as stated on 20 February, Vocus is well progressed on facility refinance plans and expects to complete its refinance by the end of the current financial year. Vocus is aware of its continuous disclosure obligations."