Australian operator TPG Telecom has denied reports that it's considering a takeover bid for New Zealand mobile operator 2degrees. In a statement to the stock market, the company said it was not in talks with 2degrees or its representatives.
The Australian reported earlier that TPG was "on the brink" of buying 2degrees from its American owners for up to NZD 900 million. The Australian Financial Review also reported that TPG and 2degrees had entered a period of "exclusive talks that will run out in late August", citing unnamed sources.
2degrees has reportedly considered a sale after earlier shelving plans for an IPO. TPG is thought to have first considered a bid for Vodafone Australia and New Zealand before moving on to 2degrees.
