According to ComputerWorld NZ, Te Huarahi Tika Trust has revealed its commercial arm, Hautaki Trust, has borrowed NZD2.6 million (USD2.07 million) from 2degrees’s majority shareholder Trilogy International Partners to maintain its minor stake in New Zealand’s third largest mobile operator. The information was included in the Trust’s annual report, released last week. Previously, during the twelve months ended 31 December 2010, Seattle-based Trilogy, which has a handful of investments in telecoms companies around the world, increased its own majority control to 58%; in February 2010 Trilogy gained Overseas Investment Office approval to take 100% control of 2degrees should the circumstances arise.
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OVETEL Maori Trust borrows NZD2.6m to maintain 2degrees stake
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