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Vodafone New Zealand confirms ihug purchase for NZD41m.

TELECOMWORLDWIRE-9 October 2006-Vodafone New Zealand confirms ihug purchase for NZD41m(C)1994-2006 M2 COMMUNICATIONS LTD

Vodafone New Zealand (Vodafone), a mobile operator and unit of the Vodafone Group based in the UK, has confirmed it has agreed to purchase ihug, a local ISP, from ISP iiNet for NZD41m.

Vodafone said ihug, which has about 125,000 subscribers at present, has a strong brand in the ISP broadband market and will continue to operate as a stand-alone company. The operator Vodafone claimed ihug should help it to develop more compelling propositions for its customers.

Although Vodafone currently has a 53% market share in New Zealand, it has only a 20% share of the country's NZD5.8bn total telecomms market. It said the purchase of ihug complements its telecomms offering in New Zealand.

Vodafone introduced wireless broadband services earlier this month and intends to launch a 'home zone' service in the next year, enabling customers to make calls through a local number for a fixed monthly fee.

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Article Type:Brief article
Date:Oct 9, 2006
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