Sky TV in merger talks with Vodafone
- 08 June, 2016 10:25
Sky Television has confirmed merger talks with telco giant Vodafone, as the two companies explore the possibility of combining practices in New Zealand.
Revealed following extensive media speculation, Sky TV confirmed the rumours via the New Zealand Stock Exchange, confirming:
“Following recent media speculation, Sky confirms that it is in discussions with Vodafone Group Plc regarding a potential transaction involving a combination of the businesses of Sky and Vodafone New Zealand.
“The discussions are ongoing and incomplete and may not result in a transaction occurring.”
At present, both companies share a deep partnership in New Zealand, reselling each others services across the country.
Despite the speculation however, Sky was quick to acknowledge that with discussions ongoing, a deal may not be announced with a further statement expected in the coming days.
In New Zealand, Sky TV employs around 1500 staff, while Vodafone’s Kiwi operation has as many as 2800 staff on its books.
More to follow…