New Zealand to get third LTE 4G network

New Zealand mobile customers look set to have a third choice for LTE 4G next year, after 2Degrees Mobile announced it has secured a line of credit from NAB-owned Bank of New Zealand.

The network will run in 2Degrees Mobile's existing 1800 and 2100MHz spectrum, according to acting chief executive Stewart Sherriff.

Sherrif is temporarily heading up the telco after its former boss Eric Hertz and his wife died in a plane accident this year.

2Degrees Mobile may also use 700MHz spectrum from the upcoming NZ government digital dividend auction, Sherriff said.

Huawei, which built 2Degrees Mobile's current 3G network, will supply the equipment for the 4G network.

Part of the credit will be used to finance new network cards and a software upgrade, but most of the credit will be used to repay an existing facility from Huawei.

2Degrees Mobile started in 2009 as New Zealand's third mobile network operator. It is now holds roughly a fifth of the market, with coverage for 97 percent of the country.