Trilogy increases 2degrees stake

16 Jul 2009

US-based holding company Trilogy International Partners has announced that it has acquired a further 26% stake in 2degrees from General Enterprise Management Services (GEMS), bringing its total stake in the New Zealand-based mobile operator to 52%. Trilogy purchased the stake from GEMS in exchange for approximately 8% of own stock. Brad Horwitz, President and CEO of Trilogy said, ‘This acquisition gives us a significant interest in the company and reflects our continued enthusiasm for the growth opportunity represented by 2degrees as the third wireless entrant in New Zealand.’ 2degrees is expected to launch commercial operations in August 2009.

New Zealand, Two Degrees Mobile (2degrees)