Econet sells up in NZ

19 May 2008

The telecoms investment group Trilogy International Partners has taken a 25% stake in New Zealand’s third national mobile licensee, NZ Communications. The stake has been acquired from Econet Wireless. The purchase price was not disclosed, Bloomberg reports. NZ Communications chairman Bill Osborne said: ‘Trilogy has the expertise and experience to guide NZ Communications through the barrier of entering a market close to 100% saturation.’ He says a launch date for NZ Communications’ network will be announced later in the year. Other shareholders in NZ Communications are General Enterprise Management of Hong Kong (with a 25% interest), UK-based Communication Venture Partners (25%), New Zealand’s Hautaki Trust (20%) and other individuals (5%).

New Zealand, Two Degrees Mobile (2degrees)