NZ's 2degrees changes hands, appoints new CEO

Dylan Bushell-Embling
20 Jul 2009
00:00
News
Daily News

Just weeks ahead of its service launch, New Zealand startup 2degrees has changed hands again and appointed a new chief.

The cellco began life as NZ Communications, which itself picked up the network assets of the defunct Econet Wireless. It changed its name in May and announced plans to launch services in August.

Now Trilogy, a US investment firm, has upped its stake in 2degrees to 52% from 26%, and has chosen US industry veteran Eric Hurst to helm the company.

Hertz told the NZ Herald he expects 2degrees to be able to carve out a fair slice of the NZ market, despite the fact that mobile penetration is over 100%.

2degrees plans to develop a NZ$250 million ($161 million) W-CDMA/HSPA network covering 97% of the population.

At launch it will become New Zealand's fourth mobile operator after Vodafone NZ, Telecom NZ and MVNO TelstraClear.

Related content

Comments
No Comments Yet! Be the first to share what you think!