Vocus' Australian purchase throws water on 2degrees speculationGLENN HUNT/FAIRFAX NZ Phone company Vocus has picked Australia over New Zealand for its next big investment. A possible takeover of 2degrees by New Zealand's third largest fixed-line phone and broadband provider, Vocus, appears to be off the table for now. Vocus' management is understood to have discussed making an offer for 2degrees over the past few months. Vocus' New Zealand managers, who joined the firm as a result of the M2 merger, were keen on recommending an offer to Vocus' board, with Vocus "old timers" opposed, the source said. But the Australian-based firm has instead announced the A$807 million (NZ$847m) acquisition of Australian fibre-optic network company Nextgen Networks and two other Australian firms.

Source: Stuff June 29, 2016 01:07 UTC