31 Jan 2013

2 Degrees will give Maori chance to buy shares

7:40 pm on 31 January 2013

Maori organisations will be given the chance this year to buy shares in the telecommunications company 2 Degrees, through its original Maori shareholder.

The Hautaki Trust holds 10% of the shares in 2 Degrees, on behalf of the trust and other Maori business interests.

Trust director Antony Royal says a special commercial arrangement means that Hautaki can sell shares to approved Maori organisations.

He says now that 2 Degrees has a strong brand and more than a million customers, the time is right to give Maori investors the chance to be part of what is one of the fastest growing telecommunication companies in the world.

The Hautaki Trust is a subsidiary of Te Huarahi Tika Trust, that was set up in 2000 to enable Maori a right of purchase over the 3G radio frequency.