After receiving interest from various potential suitors since 2017, Vocus has finally been sold to a MIRA-Aware Super consortium at AU$5.50 per share.
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New international submarine cable systems are being built to connect India to the Asia Pacific, Europe, the Middle East, and North Africa.
EBITDA hovered around the AU$192 million mark and after-tax profit took a dip.
EBITDAI remained flat, however, as the lowered revenue was offset by a decrease in operating expenses.
Charter Communications, LTD Broadband, Rural Electric Cooperative Consortium, and SpaceX were the biggest grant recipients from the auction.
Company also in a bidding war to acquire the greenfields fibre company Opticomm.
The TIO had expected an uptick in complaints regarding financial hardship during the pandemic, but these types of complaints actually dropped off because of industry and government financial support.
The links will run from Fox Glacier to Lake Hawea, and from Te Anau to Milford Sound.
It will start building the network in the second half of this year.
The telco's enterprise business arm was the only bright spot compared to the year prior.