2degrees IPO paused on merger talks - Mobile World Live

2degrees IPO paused on merger talks

11 OCT 2021

A planned listing of New Zealand-based mobile operator 2degrees was hauled after its parent company Trilogy International Partners (TIP) entered in merger discussions with the owners of a local broadband operator.

In a statement on 8 October, TIP explained it was in talks with Macquarie Asset Management and Aware Super about merging 2degrees and New Zealand-based Orcon Group, a fully-owned subsidiary of Vocus Group.

TIP stated it agreed to pause the IPO preparations of its subsidiary while a potential merger is discussed which would bring together 2degrees’ and Orcon’s “complementary assets” across mobile, broadband and fixed-line services.

The combination would create an integrated fixed-mobile business of scale, TIP added.

Any deal would be subject to completion of due diligence and standard regulatory approvals, it stated.

Vocus Group is an Australia-based fibre and network provider, which was acquired by Macquarie Asset Management and Aware Super in July 2021.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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