Econet secures funding for 3G development

27 Mar 2007

Econet Wireless New Zealand says it is still working towards a commercial launch and has secured more than NZD100 million (USD71.3 million) of investment from private equity groups to help fund its network rollout. The firm recently signed an infrastructure supply deal with Huawei of China and says it expects its full deployment to take 18 months. A launch date has not been given.

Econet, which now goes under the name NZ Communications, is one of four 3G licensees in New Zealand, although so far just two – Telecom and Vodafone – have launched commercial 3G services; a fourth firm, TelstraClear, is planning to switch on its first next generation network in the city of Tauranga later this year.

New Zealand, Two Degrees Mobile (2degrees)