Infratil owns a 20% stake though.
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I was thinking more in terms of of the Vodafone NZ board rather than the Infratil board. I imagine there are watertight contracts reserving space on those towers for Vodafone for 15 years, with another 15 year option for renewal (like the Spark deal). But I just thought Spark retaining 30% of 'their' tower company, while Vodafone sold out completely, was an interesting contrast. While major Vodafone NZ shareholder Infratil maintains a blocking stake in 'their' Towerco, then I guess it doesn't matter. But I wonder what happens after Infratil's rumoured eventual sell down of their shareholding in Vodafone NZ?
SNOOPY
I feel there are always other games at play. I am assuming that Vodafone directors are allowed to act independently, but with a transaction of this nature would have needed the approval of both Infratil and Brookfield. I am certain that this transaction would have happened for a reason. Who knows what the reason is but we are only seeing pieces of the puzzle.
Infratil announces new capital and co-investor for Longroad Energy:
http://nzx-prod-s7fsd7f98s.s3-websit...170/375625.pdf
“The transaction implies a pre-money valuation for Longroad of US$2,000 million. “
“At completion of the transaction, Infratil will have invested a net US$112 million in Longroad since 2016, and achieved an IRR of 59% p.a. based on the US$800 million pre-money valuation of its stake implied by this transaction (post-estimated performance fees and tax and sale costs payable if Infratil realised its stake).”
Wow, Infratil have been able to generate great returns on these energy transition business.
THERE SHE BLOWS!!!
new ATH right?