UK-based Vodafone Group is said to be considering the partial flotation of its subsidiary in New Zealand. A sale could happen before the end of the year, according to an unnamed market source cited by local news portal stuff.co.nz. The source says Vodafone NZ is setting up meetings for ‘a non-deal roadshow’ to test the appetite of institutional investors for the float, with Deutsche Bank advising. Vodafone has not commented on the rumours.
Earlier this year a NZD3.4 billion (USD2.3 billion) merger between Vodafone NZ and local pay-TV provider SKY Network Television was called off after it ran into regulatory opposition over its effect on competition.