Paris said Vodafone NZ had got the backing of "two new world class and long-term investors" and could continue to tap into Vodafone's global expertise. "Telecommunications is critical infrastructure for New Zealand and Vodafone NZ is an integral part of everyday Kiwi life," he said. Our 2010 acquisition of Shell's New Zealand downstream assets is an example of our ability to enhance a significant New Zealand infrastructure business." Infratil and Brookfield would each pay just over $1b in cash to Vodafone with the balance of the $3.4b purchase price funded with Vodafone NZ debt and "a portion of equity reserved for the Vodafone NZ executive team". The proposal also valued Vodafone NZ on paper at $3.4b but was shot down by the Commerce Commission the following year.

Source: Stuff May 13, 2019 19:18 UTC