WELLINGTON, New Zealand--New Zealand's competition regulator said it had cleared a business combination for telecommunications companies 2Degrees and Vocus.

The regulator said Tuesday that the proposed acquisition is unlikely to substantially lessen combination in the retail or wholesale telecoms markets in New Zealand.

Under the proposed deal, a New Zealand unit of Australia's Vocus Group will acquire Two Degrees Group Ltd., which trades as 2Degrees, from Trilogy International Partners Inc., which owns 73%, and Tesbrit B.V.

Vodafone New Zealand Ltd., majority owned by Infratil Ltd., and Spark New Zealand Ltd. are the main competitors of 2Degrees.


Write to Stephen Wright at stephen.wright@wsj.com


(END) Dow Jones Newswires

03-14-22 1729ET