TPG Telecom denies 2degrees talks

David Teoh’s TPG has rejected reports it’s in discussion to buy the NZ mobile phone operator.

There were expectations within the market that a deal to buy NZ’s third largest mobile phone operator was imminent.

The ever acquisitive TPG Telecom has rejected reports it is in talks to buy New Zealand mobile phone operator 2degrees.

In a brief statement to the market this morning, David Teoh’s TPG looked to distance itself from suggestions an $800 million deal was in the offing.

“TPG advises that it is not currently in discussions with 2degrees or its representatives,” the group said.

There were expectations within the market a deal to buy NZ’s third largest mobile phone operator was imminent, with Macquarie Capital and UBS linked to advisory roles.

The potential target was put up for sale recently as plans to float on the NZX were dumped.