Sky TV, Vodafone plan merger to create NZ's largest telco and media group

Wed, 08 Jun 2016

By Tina Morrison June 9 (BusinessDesk) - Sky Network Television plans to merge with the New Zealand unit of Vodafone Group to create the country's largest telecommunications and media group. Auckland-based Sky wants to acquire all the shares in Vodafone NZ for $3.44 billion through the issue of new shares, giving Vodafone Europe a 51 percent share in the combined group, and cash of $1.25 billion, to be funded through new debt, the companies said in a statement. Sky plans to borrow $1.8 billion from Vodafone to fund the purchase, repay its...

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