TPG Telecom hoses down 2Degrees speculation

TPG Telecom, the Australian company that bought Spark New Zealand's AAPT business in 2013, has hosed down speculation it's on the verge of buying Two Degrees Mobile. 

Australian media reported the ASX-listed company founded by billionaire David Teoh was nearing a deal to buy 2degrees for as much as $900 million after the New Zealand mobile operator gave up on a planned $150 million initial public offering. 

In a statement to the ASX, the Sydney-based company said "it is not currently in discussions with 2degrees or its representatives". 

New Zealand's 2degrees reported a net loss of $33.1 million on revenue of $569 million in calendar 2015 as the acquisition of internet service provider Snap bolstered its top-line sales, transforming the company into a full-service offering.

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

HLG Full Year Results for the period ending 1 August 2025
TWR - Tower announces partnership with Westpac NZ
PaySauce charts Australian launch; reiterates guidance
September 26th Morning Report
Fonterra reports continued strong performance in FY25
Air NZ issues Australian $300 million Medium Term Notes
KMD - FY25 Annual Results Announcement
Tower successfully renews insurance programme for FY26
September 24th Morning Report
AIA - Auckland Airport considers bond offers