WELLINGTON, July 6 (Reuters) - Auckland-based Sky Network Television Ltd (SKT) said on Wednesday its shareholders voted almost unanimously in favour of a plan to acquire Vodafone PLC's New Zealand unit for NZ$3.44 billion ($2.45 billion).
Under the terms of the deal, Sky Network will buy New Zealand's No. 1 mobile phone provider for NZ$1.3 billion in cash, to be funded through new debt, and the rest in new Sky shares. Vodafone will own 51 percent of the combined entity if the deal goes through.
On Wednesday, Sky Network shareholders voted 99.96 percent in favour of the purchase, the incurrence of new debt and the share issue, the company said in a statement.
The transaction remains subject to regulatory approvals from New Zealand's Overseas Investment Office and the Commerce Commission.
Sky Network is New Zealand's biggest pay-TV provider, while Vodafone NZ provides broadband, fixed-line and mobile phone services. The two companies already work together on some digital online offerings, and Vodafone NZ offers Sky Network content as part of its packages.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.