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  #2236309 13-May-2019 21:35
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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.


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  #2236348 14-May-2019 07:21
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SOLD


 
 
 
 


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  #2236349 14-May-2019 07:24
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  #2236350 14-May-2019 07:25
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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.

 





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  #2236353 14-May-2019 07:31
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tdgeek:

 

SOLD

 

 

 

 

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





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  #2236355 14-May-2019 07:42
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The Consortium, sounds like it should be in a Bond film





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  #2236360 14-May-2019 08:10
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So what changes now? Anything? Nothing?

 
 
 
 


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  #2236361 14-May-2019 08:13
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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


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  #2236366 14-May-2019 08:37
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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

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  #2236368 14-May-2019 08:55
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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.


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  #2236373 14-May-2019 09:10
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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)? 





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  #2236374 14-May-2019 09:12
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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


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  #2236376 14-May-2019 09:17
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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?





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  #2236378 14-May-2019 09:22
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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

 

 


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  #2236380 14-May-2019 09:23
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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.


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