Australian Internet Service Provider (ISP), TPG Telecom, is rumoured to be in the final stages of acquiring 2degrees, in a deal valued as high as $900 million.
That’s according to a whirlwind of rumours regarding the future of New Zealand’s third-largest mobile phone operator, with a multi-million dollar deal believed to be imminent.
Yet despite the reports, TPG was quick to play down the news, issuing a statement on the Australia Securities Exchange that read; ”Regarding today's media articles published in The Australian and the AFR, TPG advises that it is not currently in discussions with 2degrees or its representatives.”
Acquisition speculation comes just days after 2degrees itself hit back at consolidation in the local market, through officially opposing the potential merger of Vodafone New Zealand and Sky TV.
“The merged entity will have both the incentive and the ability to leverage its substantial market power in content markets to lock up premium content for exclusive delivery over its own platforms, foreclosing competition in the residential fixed-line and retail mobile markets," 2degrees said last week.