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.