Vodafone group closes sale of Vodafone NZ

UK based Vodafone Group has settled the sale of Vodafone NZ to a consortium comprising ASX listed Infratil and Brookfield Asset Management Inc for $3.4 billion - one of the largest New Zealand MA transactions on record.

The deal was announced on 14 May and received Commerce Commission clearance and Overseas Investment Office approvals on 12 July.

James Gibson, a partner in Bell Gully, which advised Vodafone Goup on the transaction, said it involved ongoing complex commercial and technology arrangements because Vodafone NZ would continue to be a partner market of the Vodafone Group.

Vodafone Group said it would use the proceeds from the sale to pay down debt, and its partner market agreement with Vodafone NZ included use of the Vodafone brand, preferential roaming arrangements, access to Vodafone’s global IoT platform and central procurement function, and a range of services for the business and consumer markets.

Vodafone describes its IoT platform as “a complete IoT offering based on our global infrastructure which provides all you need to make IoT work for your business anywhere in the world.”

Vodafone says it delivers managed IoT connectivity, device management and application enablement all in one place.

At the announcement of its annual results in March 2019 Vodafone Group CE0, Nick Read said the company aimed to build the largest global IoT platform: “Though already a global leader, we are expanding through key partnerships with ATT and ARM. Together with ATT we bring together the leading IoT players for the automotive segment in Europe and in the US, allowing us to offer a car manufacturer a harmonised product and services roadmap. With ARM, we will integrate connectivity into the actual chip itself, removing the need for a SIM card, ultimately with the potential to connect billions of new devices at a new price point.”

Copyright © 2019 IDG Communications, Inc.

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