Sources say the companies’ owners – Canada-listed Trilogy International Partners and Macquarie’s MIRA – realised the pairing is a logical combination and got a look at each other’s books as they progressed their respective floats.
While the talks are at an early stage, the merger would create a $2.5 billion-odd company with about $1 billion in annual revenue and north of $200 million in earnings before interest, tax, depreciation and amortisation, before synergies.
The hope is the combination will form a significant third player capable of taking on Vodafone NZ and Spark.
It’s bringing back all the memories of TPG Telecom and Vodafone Australia’s $16.5 billion merger.
Global equities investor GQG Partners has all-but secured its trip to the ASX-boards, picking up backing for $800 million of its proposed $1.2 billion initial public offering.