Infratil shares have been placed in a trading halt as the NZ infrastructure company prepares to make an announcement about the potential acquisition of Vodafone NZ.
The dual-listed firm confirmed its interest in NZ's largest mobile provider in a statement on Friday.
"Infratil confirms that it and another party are in discussions with Vodafone Group Plc regarding a potential transaction involving an acquisition of Vodafone New Zealand," Infratil said.
"The discussions with Vodafone and financiers are ongoing and incomplete, and may not result in a transaction occurring."
Infratil also announced a trading halt, which is scheduled to last until Tuesday.
It confirmed the halt was in response to media reports that it is in talks with Vodafone NZ's UK parent about what would be a multi-billion-dollar deal.
"Infratil is not currently in a position to provide information in response to those reports which is sufficiently certain to enable informed trading in its quoted securities," Infratil said in a statement.
Infratil expects to make an announcement in relation to the potential acquisition before the market opens on Tuesday.
In 2017, NZ's competition watchdog blocked a merger between a divested Vodafone NZ and the pay-TV provider Sky TV.
The merger valued Vodafone NZ at $NZ3.4 billion ($A3.2 billion).
Infratil's ASX-listed shares were valued at $4.35 prior to the halt, up 26 per cent this calendar year.
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