New York-based multinational investment management corporation BlackRock Inc has reportedly acquired a 5% stake in Telecom New Zealand. The development, which has been widely reported in the local press, was divulged by BlackRock in an announcement to the New Zealand Stock Exchange. The transaction – which saw 16 separate BlackRock subsidiaries based in Canada, Australia, Japan, the UK, Germany and the Netherlands purchase 66.2 million shares, worth a combined USD253 million – makes the investment firm one of the five largest shareholders in Telecom
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OVETEL BlackRock snags 5% of Telecom NZ
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