Vodafone New Zealand, which is owned by Infratil and Brookfield Asset Management, is considering selling its mobile tower network and has hired Barrenjoey and UBS to assist on the prospective sale.
The transaction has been discussed since late last year. It is estimated to be worth more than NZ$1 billion (A$930 million).
Vodafone corporate affairs spokesperson Rich Llewellyn stated that the operator anticipates a buyer earning NZ$51 million (A$47.5 million) from the tower network before taxes.
The purchase price would comprise 1487 physical towers with masts, poles, foundations, fences, and access facilities, as well as any associated contractual rights to use site areas.
Radio-frequency spectrum, core mobile or radio networks, or data backhaul lines connecting to facilities are not considered passive assets.
Vodafone plans to build 290 new cell sites with towers, which it will lease together with existing ones for the next 40 years after the sale.
It is a model that has been seen in other parts of Australia and New Zealand.
In February of this year, incumbent telecom Spark announced that it will transfer its own tower assets to a company named TowerCo in order to prepare for shared infrastructure wholesaling.
In mobile, our active assets – including our core network and radio equipment – are what generate our competitiveness.
“These assets leverage our spectrum holdings, deliver distinctive consumer experiences, and help us achieve our wireless goals.”
In Australia, Telstra sold a 49 percent ownership in its InfraCo Towers company in June of last year for $2.8 billion.
Optus followed suit in October 2021, selling a 70% stake in its Australia Tower Network business for $1.9 billion.
