ABN Amro has provided British Telecommunications (BT) with mergers and acquisitions advice for the first time, on the sale of Clear Communications, its wholly-owned New Zealand subsidiary.

BT will sell Clear Communications to TelstraSaturn, part of Telstra, the Australian communications carrier. Telstra will pay NZ$435m (€206m) in cash.

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Research group GfK’s measure of consumer confidence climbed to minus 18 in November’s survey from minus 21 in October.

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ABN Amro does first M&A deal for BT

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