Vodafone Group Sells New Zealand Subsidiary for $2.2bn

Vodafone Group Sells New Zealand Subsidiary for $2.2bn Image Credit: Vodafone

Vodafone Group announced the sale of 100% of Vodafone New Zealand to a consortium comprising Infratil and Brookfield Asset Management. 

The Consortium has agreed to acquire Vodafone New Zealand for a cash consideration equivalent to an Enterprise Value of $2.2bn. On completion, Vodafone and Vodafone New Zealand 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, CEO, Vodafone Group
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.

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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