Vodafone has bought New Zealand phone and internet company ihug for $41 million - giving it entry into the internet and toll calling markets.

Vodafone chief executive Russell Stanners said yesterday that the deal strengthened the UK company's position in the market, with customers benefiting from the combined strength of both firms.

More info:
New Zealand Herald - Vodafone pays premium in ihug deal - Monday 09, October 2006 23:26.00 PM
Vodafone buys iHug for $36m | Business | The Australian
Vodafone New Zealand Buys ihug Entering ISP Market
Vodafone buys iiNet's NZ business: ZDNet Australia: News: Communications