Thursday, 20 July 2017

Sky buys Vodafone NZ in NZ$3.44bn deal

By Mary Lennighan, Total Telecom
Thursday 09 June 16

Multiplay trend continues as mobile, fixed broadband operator merges with pay TV provider; incumbent Spark insists it faces no increased competitive challenge.

Sky Network Television and Vodafone will merge their operations in New Zealand via a deal valued at NZ$3.44 billion (€2.16 billion) that will effectively see Sky buy out the mobile operator before handing over a majority stake in the combined entity. Under the terms of the deal, Sky will buy all of Vodafone New Zealand's shares for the aforementioned sum by issuing new Sky shares to give Vodafone a 51% stake in the merged company plus NZ$1.25 billion in cash, to be funded through new debt…

Sky Network Television and Vodafone will merge their operations in New Zealand via a deal valued at NZ$3.44 billion (€2.16 billion) that will effectively see Sky buy out the mobile operator before handing over a majority stake in the combined entity. Under the terms of the deal, Sky will buy all of Vodafone New Zealand's shares for the aforementioned sum by issuing new Sky shares to give Vodafone a 51% stake in the merged company plus NZ$1.25 billion in cash, to be funded through new debt…

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