New Zealand mobile operator 2degrees is reportedly set to announce a NZ$26m (US$19.4m) deal to buy local ISP Snap to enter the fixed-line market.
The telco has declined to comment on the speculation but has scheduled an announcement on Monday about the…
New Zealand mobile operator 2degrees is reportedly set to announce a NZ$26m (US$19.4m) deal to buy local ISP Snap to enter the fixed-line market.
The telco has declined to comment on the speculation but has scheduled an announcement on Monday about the future of its business, according to local reports.
The group first unveiled ambitions to enter the fixed-line market in late 2012, just three years after its launch in 2009.
Eric Hertz, its CEO at the time, died in a private plane crash in early 2013.
Indonesian incumbent telco Telkom had been looking to buy a 25-30% stake in 2degrees until recently. Telkom told its local stock exchange in January that it had scrapped those plans over a disagreement on price.
US venture capital firm Trilogy International Partners owns 60% of 2degrees. Hautaki Trust, which represents New Zealand’s Maori population, also holds a stake.
