State-owned telecommunications and media company Kordia has announced it is selling its retail broadband arm, Orcon.
Kordia says it has been in talks with a number of parties in the last few months, and expects to be able to make a formal announcement on the sale in coming weeks.
The company paid $24.3 million for Orcon in 2007.
Kordia will have two chief executives when its current Geoff Hunt steps down at the end of the month.
Scott Bartlett will run the new Kordia New Zealand and Peter Robson will continue to lead Kordia Solutions Australia.
