Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Vodafone Buys Ihug - Strengthening Telco Position

Vodafone Buys Ihug - Strengthening Its Position In Telco Market

Vodafone New Zealand today announced it will acquire ihug New Zealand Ltd from iiNet for $NZ41 million.

CEO Russell Stanners says the deal further strengthens Vodafone’s position in the telecommunications market with customers benefiting from the combined strength of both companies.

“It’s a perfect fit. Right now, we are the leaders in mobile, however we only have 20% share of the telecommunications market. When combined with ihug’s strength in fixed line broadband and calling, we can develop and deliver even more compelling propositions for our customers.”

Mr Stanners says the deal is an important step in the evolution of Vodafone’s business in New Zealand.

“We will remain a mobile-centric business but the addition of ihug complements our telecommunications offering in New Zealand.

“It’s a very exciting time, with two strong challengers coming together to take on the competition,” he says.

He says ihug will operate as a standalone company.

“ihug already has a strong brand in the ISP broadband market which New Zealanders identify with, a capable management team and we fully support their growth plans.”

ihug CEO Mark Rushworth believes it will be a smooth transition as the two companies have similar brand values.

“We’re thrilled with this news. A strong and dynamic parent company like Vodafone is just what we need at this stage of our growth,” he says.

Ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Grey Power: Is Disappointed To Learn Of More Bank Closures

Many older people are being left without essential services because of cost cutting and the march of modern technology. It is now expected that most banking transactions can occur via the internet or telephone. Jan Pentecost, President of the Grey Power ... More>>

ALSO:

Economy: Supply Chain On Brink Of Overload Says National Road Carriers

The New Zealand supply chain is on the brink of overload and it looks like the upcoming peak imports season may push it over the edge says National Road Carriers Association (NRC) CEO David Aitken. “Worldwide supply chains are in disarray,” says Mr Aitken. ... More>>

Retail: Supermarkets Announced As Government’s Second Market Study

The Government has today launched a market study to ensure New Zealanders are paying a fair price for groceries. More>>

ALSO:

Statistics New Zealand: Retail Sales Recover In The September 2020 Quarter

Retail sales values recorded the largest September quarter rise since the series began in 1995, Stats NZ said today. Spending on major household items, vehicles, and groceries contributed to the strong 7.4 percent ($1.8 billion) rise in total ... More>>

Kea Aerospace: New Zealand Flies Into The Stratosphere

Development has started on a solar-powered, unmanned aircraft that can fly in the stratosphere continuously for months at a time. The zero-emission aircraft will carry a suite of imagery equipment that will be game-changing for many industries, vastly ... More>>

Stats NZ: Births And Deaths: Year Ended September 2020

Births and deaths releases provide statistics on the number of births and deaths registered in New Zealand, and selected fertility and mortality rates. Key facts For the year ended September 2020: 57,753 live births and 32,670 deaths ... More>>

ALSO:


Forest & Bird: Kākāpō Wins Bird Of The Year 2020

The nation has voted and Aotearoa New Zealand has a new Bird of the Year. New Zealand’s moss-colored flightless parrot has climbed to the top-spot for the second time in Forest & Bird’s annual Te Manu Rongonui o Te Tau/Bird of the Year competition. ... More>>