New Zealand’s Vector earlier this month received non-binding indicative offers (NBIOs) for its fibre assets, two sources said.

It was most likely strategic players that lodged bids, which were due in the last week or two, they added, without saying who bid.

Northleaf Capital Partners and InfraRed-owned telco Fortysouth and La Caisse and Ontario Teachers’ Pension Plan (OTPP)-owned mobile tower operator Connexa did not bid, two additional sources said.

Igneo-owned Tuatahi First Fibre and One NZ-owned EonFibre — which is ultimately owned by Morrison-managed Infratil — were also among those considering making an offer, as reported.

Infralogic reported on 10 October that sell-side advisor Barrenjoey had launched the sale after sizing up market interest, with the above companies likely interested in the sale of the Auckland fibre network.

New Zealand-listed Vector marked its fibre assets for strategic review in May. They are expected to be worth less than AUD 200m (USD 130.5m) and it is still unclear if the sale is for all or part of the asset, as reported.

Vector sold a 50% stake in its electricity metering business to QIC in 2023 and in January sold its liquefied petroleum gas (LPG) business, Vector Ongas, and its 60% stake in Liquigas for NZD 150m (USD 87.5m) to Elgas, as reported.

Infratil on 13 November agreed to sell its 20% stake in Fortysouth to InfraRed Capital Partners and Pantheon for more than NZD 200m.

Connexa agreed to acquire 2Degrees’ passive mobile tower assets in December 2022.

Tuatahi, Fortysouth, Connexa and EonFibre declined to comment. Vector did not respond to a request for comment.