Bell Gully is advising One New Zealand (One NZ) on its proposal to establish a network infrastructure sharing arrangement with 2degrees, which will combine each company’s radio access network (RAN) infrastructure in a new, jointly-owned business.
RAN technology includes the active equipment on mobile sites, such as the electronics and antennas. Under the proposed transaction, One NZ and 2degrees would contribute their respective RAN assets into a jointly-owned commercial entity, RANCo. RANCo would own, manage and operate the shared RAN infrastructure, providing network services back to each company via separate wholesale agreements. The model is designed to make more efficient use of existing infrastructure, reduce unnecessary duplication and create a stronger platform for future investment in New Zealand’s digital connectivity.
Commenting on the proposed transaction, Bell Gully corporate partner Alex Bond said: "We are thrilled to be supporting the brilliant One NZ team on this significant transaction, which will enable One NZ to deliver better and more efficient deployment of mobile network assets and focus investment on the parts of its network and services that create the most value for its customers.”
The Bell Gully team advising One NZ was led by corporate partners Anna Buchly and Alex Bond, and also included partners Torrin Crowther, Mathew McKay, Glenn Shewan, Hannah Turton, Sarah Anderson-Butler and Rosemary Wooders, special counsel Penny Pasley and Hayden Roberts and associate Ravi Maharaj.
The transaction is subject to customary conditions, including approvals from the New Zealand Commerce Commission and Overseas Investment Office, and is expected to complete in the first half of 2027.
This transaction adds to Bell Gully's extensive M&A experience in digital infrastructure and technology transactions, which includes having advised Brookfield Asset Management on the sale of its 49.95% stake in One NZ to Infratil, and One NZ on the sale of its passive mobile infrastructure assets to InfraRed Capital Partners and Northleaf Capital Partners.
Disclaimer: This publication is necessarily brief and general in nature. You should seek professional advice before taking any action in relation to the matters dealt with in this publication.
