Vodafone in no rush to Woosh

6 Sep 2005

UK-based mobile phone group Vodafone has allowed a deadline option it negotiated two years ago to acquire a 20% interest in wireless broadband services provider Woosh Wireless to pass, without stumping up the requisite NZD30 million (USD21.3 million) needed to secure the deal. Although Vodafone has a 1.7% stake in the New Zealand operator through a share option conversion relating to its NZD2.5 million investment in a trial Woosh carried out in 2003, it appears the cellco’s enthusiasm for the venture has now cooled considerably. A spokeswoman for the operator confirmed it would not be providing ‘any new capital through this option exercise’, although Vodafone is keeping its options open and believes its future partnership with Woosh may have ‘strategic potential’. Woosh Wireless has around 16,000 wireless broadband users and is in the advanced stages of trials of VoIP services with staff and customers.

New Zealand, Vodafone UK