FNZC trims Infratil's target price on $3.4B Vodafone deal

Tue, 14 May 2019

By Rebecca Howard May 15 (BusinessDesk) - First NZ Capital has lowered its target price for Infratil shares after the infrastructure investor flagged plans to make a $1.03 billion investment in Vodafone New Zealand. Multinational telco Vodafone Group has agreed to sell its New Zealand unit to a consortium comprising Infratil and Canada's Brookfield Asset Management for an enterprise value of $3.4 billion. Each partner will take a 49.9 percent stake for $1.03 billion each. Vodafone NZ will also take on $1.3 billion of debt. Infratil's...

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