Infratil announces conditional agreement to acquire 50% of Vodafone New Zealand Limited
Infratil announced a conditional agreement to acquire 50% of Vodafone New Zealand Limited (Vodafone NZ) from Vodafone Group Plc for an enterprise value of NZD3.4 billion (US$ 2.23 billion). As noted in that announcement, completion of the Acquisition is conditional on Overseas Investment Office approvals and Commerce Commission clearance (with fallback divestment provisions if clearance is not obtained).
Vodafone NZ is is a telecommunications company operating in New Zealand; it is a subsidiary of the London-listed company Vodafone Plc. It is New Zealand's largest mobile phone operator, based in Auckland.
The Commerce Commission has released its Statement of Preliminary Issues on Infratil’s application for clearance. This is a normal part of progressing the clearance process. The preliminary issues raised are in line with Infratil’s expectations, and Infratil continues to believe that there are very strong reasons for clearance to be granted. These reasons are outlined in more detail in Infratil’s clearance
application, a public version of which is also available on the Commerce Commission’s website.
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