NZX listed infrastructure investor Infratil has confirmed it and another party are negotiating a buyout of Vodafone NZ.
In a statement to the market this morning, Infratil confirmed that it and another party (reportedly Canadian investment giant Brookfield) are in discussions with Vodafone Group regarding a potential transaction involving an acquisition of the local business.
"The discussions with Vodafone and financiers are ongoing and incomplete, and may not result in a transaction occurring," the company said.
"We will continue to update the market as material developments unfold."
Infratil shares are now in a trading halt ordered by the market regulator.
"Infratil is not currently in a position to make a substantive announcement regarding the potential outcome," the company announced separately.
"The NZX market regulator has determined that it is in the best interests of maintaining an orderly market in Infratil’s securities to apply a trading halt, until Infratil is able to release substantive information regarding those discussions."
Vodafone NZ was shaping up for an NZX listing in its own right, but whether that will occur or in what form is now uncertain.