Broadband provider Vocus is being re-assessed for a possible sharemarket float as a takeover for its parent is finalised.
Vocus New Zealand has the Slingshot, Orcon, and Stuff Fibre brands, a data centre and is involved in Sky TV's broadband service. Photo: 123RF
Vocus New Zealand has the Slingshot, Orcon, and Stuff Fibre brands and had been picked for a float until a $3.8 billion takeover deal for its parent emerged in February.
The company confirmed Thursday it was once again considering strategic options for the New Zealand business, just as the deal to sell the parent company Vocus Group to a consortium of a Macquarie Group fund and Aware Super goes through its final stages.
The deal has only just gained shareholder and court approval.
Vocus New Zealand said it had appointed advisers - reportedly Goldman Sachs, UBS, and Forsyth Barr - to look at options for the business an initial public offering (IPO) or possible trade sale of the New Zealand operations.
No decisions on possibly carving off parts of the company are expected until the new owners take control in a few weeks.
The operation is thought to be worth about $540 million, although an earlier appraisal had put a value of more than $700m on the business.
The future of the Vocus New Zealand business has been up in the air for several years with mooted sales or share floats put on and then taken off the table several times.
The company has about 226,000 subscribers, a data centre, and is involved in Sky TV's broadband service.