Vodafone NZ for sale

Forums › One NZ (including Farmside) › Vodafone NZ for sale

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8

14940 posts

Uber Geek
+1 received by user: 13954

ID Verified

#2236309 13-May-2019 21:35

Couldn't they just retire it and leave the network in place?
Then again, they don't have to pay Chorus anything if the connections are all on their own network, so savings to be made there. Pity they never finished the rollout in Christchurch (or started in Auckland) - but I guess fibre has overtaken cable as a "premium" connection type now.

tdgeek

30048 posts

Uber Geek
+1 received by user: 9455

Trusted

Lifetime subscriber

#2236348 14-May-2019 07:21

SOLD

tdgeek

30048 posts

Uber Geek
+1 received by user: 9455

Trusted

Lifetime subscriber

#2236349 14-May-2019 07:24

https://www.stuff.co.nz/business/112669368/vodafone-nz-sold-for-34b

Just a small summary

freitasm

BDFL - Memuneh
80652 posts

Uber Geek
+1 received by user: 41045

Administrator

ID Verified

Trusted

Geekzone

Lifetime subscriber

#2236350 14-May-2019 07:25

VODAFONE GROUP ANNOUNCES SALE OF VODAFONE NEW ZEALAND AND NEW PARTNER MARKET AGREEMENT

Vodafone Group Plc (“Vodafone”) announces the sale of 100% of Vodafone New Zealand Limited (“VFNZ”) to a consortium comprising Infratil Limited and Brookfield Asset Management Inc. (collectively referred to as the “Consortium”).

The Consortium has agreed to acquire VFNZ for a cash consideration equivalent to an Enterprise Value of NZ$3.4bn (€2.1bn), implying an FY’19 LTM multiple of 7.3x Adjusted EBITDA3 and 16.2x Adjusted OpFCF4.

On completion, Vodafone and VFNZ will enter into a Partner Market agreement, which will include use of the Vodafone brand, preferential roaming arrangements, access to Vodafone’s global IoT platform and central procurement function, and a range of services for the business and consumer markets.

Nick Read, Chief Executive of Vodafone Group, said: “An important aspect of our strategy is the active management of our portfolio and deleveraging, which this transaction further demonstrates. We have always been proud of our Vodafone New Zealand business, which has a great team, and we look forward to a continued close relationship through our Partner Market agreement.”

The Transaction is subject to customary regulatory approvals, with completion anticipated during Vodafone’s 2020 financial year.

Referral links: Quic Broadband (free setup code: R587125ERQ6VE) | Samsung | AliExpress | Wise | Sharesies

Support Geekzone by subscribing (browse ads-free), or making a one-off or recurring donation through PressPatron.

JaseNZ

2576 posts

Uber Geek
+1 received by user: 1489

ID Verified

Lifetime subscriber

#2236353 14-May-2019 07:31

tdgeek:

SOLD

Hate to pay the trade me success fee on that one.

Ding Ding Ding Ding Ding : Ice cream man , Ice cream man

vexxxboy

4336 posts

Uber Geek
+1 received by user: 2072

#2236355 14-May-2019 07:42

The Consortium, sounds like it should be in a Bond film

Common sense is not as common as you think.

Samsung

Shop now on Samsung phones, tablets, TVs and more (affiliate link).

quickymart

14940 posts

Uber Geek
+1 received by user: 13954

ID Verified

#2236360 14-May-2019 08:10

So what changes now? Anything? Nothing?

Linux

12182 posts

Uber Geek
+1 received by user: 8476

Trusted

Lifetime subscriber

#2236361 14-May-2019 08:13

quickymart: So what changes now? Anything? Nothing?

Have you read the article? Clearly nothing as the sale goes ahead 2020

The Transaction is subject to customary regulatory approvals, with completion anticipated during Vodafone’s 2020 financial year

insane

3324 posts

Uber Geek
+1 received by user: 1006

ID Verified

Trusted

2degrees

Subscriber

#2236366 14-May-2019 08:37

That's pretty normal wording. When the company I worked for got acquired by Vocus, changes came about in days despite the final purchase completion taking place a year later. There will no doubt be certain financial performance targets that need to be maintained for them to get their full $3.4B

PolicyGuy

1820 posts

Uber Geek
+1 received by user: 1769

ID Verified

Lifetime subscriber

#2236368 14-May-2019 08:55

I'm wondering if Infratil will want to realise any synergies between its new VFNZ business and its existing investment in TrustPower who are also a major player in the ISP market.

Handsomedan

7769 posts

Uber Geek
+1 received by user: 7402

ID Verified

Trusted

Subscriber

#2236373 14-May-2019 09:10

PolicyGuy:

I'm wondering if Infratil will want to realise any synergies between its new VFNZ business and its existing investment in TrustPower who are also a major player in the ISP market.

Are Trustpower an actual ISP, through? Or do they whitelabel someone else's services (i.e. VFNZ or Vocus)?

Handsome Dan Has Spoken.
Handsome Dan needs to stop adding three dots to every sentence...

Handsome Dan does not currently have a side hustle as the mascot for Yale

*Gladly accepting donations...

New World

Shop on-line at New World now for your groceries (affiliate link).

tdgeek

30048 posts

Uber Geek
+1 received by user: 9455

Trusted

Lifetime subscriber

#2236374 14-May-2019 09:12

PolicyGuy:

I'm wondering if Infratil will want to realise any synergies between its new VFNZ business and its existing investment in TrustPower who are also a major player in the ISP market.

Guaranteed. Synergies will help, but all on one bill for mobile, BB, power, Sky, thats quite a customer convenience. Maybe Spark should become a power provider as well

Zepanda66

533 posts

Ultimate Geek
+1 received by user: 212

#2236376 14-May-2019 09:17

Linux:

quickymart: So what changes now? Anything? Nothing?

Have you read the article? Clearly nothing as the sale goes ahead 2020

The Transaction is subject to customary regulatory approvals, with completion anticipated during Vodafone’s 2020 financial year

I'm confused the stuff article gets a little more specific. Saying end of August.

He expected the deal, which is subject to approval by the Overseas Investment Office and the Commerce Commission, would be completed by the end of August.

https://www.stuff.co.nz/business/112669368/vodafone-nz-sold-for-34b?

http://www.speedtest.net/result/7315955530.png

wellygary

8810 posts

Uber Geek
+1 received by user: 5287

#2236378 14-May-2019 09:22

PolicyGuy:

I'm wondering if Infratil will want to realise any synergies between its new VFNZ business and its existing investment in TrustPower who are also a major player in the ISP market.

According to Infratil T/Power have a 5% share of fixed connections, so its probably a stretch to call them a major player.(although once you get past the big 3 , 5% is one of the larger minnows,

In fact the ownership of Trustpower makes the takeover a little bit harder as it means it needs Com Com clearance as well as OIO,

This is from their investor presentation to the NZX this morning

Infratil owns 51% of Trustpower. Trustpower has a 5% fixed broadband market share by connection. Vodafone NZ has a 26% fixed broadband market share by connection. In comparison, Spark is the largest player in the market with 43%, with Vocus and 2degrees 3rd and 4th with 13% and 5% respectively

Andib

1396 posts

Uber Geek
+1 received by user: 974

ID Verified

Trusted

#2236380 14-May-2019 09:23

tdgeek:

PolicyGuy:

I'm wondering if Infratil will want to realise any synergies between its new VFNZ business and its existing investment in TrustPower who are also a major player in the ISP market.

Guaranteed. Synergies will help, but all on one bill for mobile, BB, power, Sky, thats quite a customer convenience. Maybe Spark should become a power provider as well

It's taken them 13 years to get BB and mobile on the same bill so I think power would be a wee while off.

<#
.DISCLAIMER
Anything I post is my own and not the views of my past/present/future employer.
#>

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8