2degrees Mobile co-founder goes to court against... 2degrees

2degrees Mobile co-founder goes to court against… 2degrees

TW.com Eds: Tex Edwards and his vision, drive and commitment were pivotal to the creation of a 3rd mobile phone company, a move which has led to significant decreases in the cost of mobile phone plans, mobile phones and overall cost structures. We wish him the very best and hope that what ever the outcome, both parties come away from this serious allegation, stronger and better prepared to continue the incredible in-roads that 2degrees has made for all of New Zealand and for Maori, who via Te Huarahi Tika Trust own a share of this company.

(Waatea News) A corporate bust-up at mobile phone company 2degrees could put the spotlight on Te Huaraki Tika Maori Spectrum Trust.

Strategist Tex Edwards is awaiting the outcome of an Employment Court hearing into his treatment by the company he set up, and he is also believed to be considering High Court action over his shareholding.

If that goes ahead, loans between the spectrum trust’s Hautaki subsidiary and majority shareholder Trilogy Partners could come under scrutiny.

The trust revealed at its annual meeting that each time the phone company issues more shares to fund its set-up costs, Hautaki borrows from Trilogy to prevent the Maori stake dropping below 10 percent.

Meanwhile, Mr Edwards’ stake has been diluted below 1 percent.

The company uses spectrum that Te Huarahi Tika has access to because of treaty claims.

Background (from our perspective)

2degrees, along with Hautaki and Te Huarahi Tika Trust, each put in money to get 2degree moving.

Hautaki is the business arm of Maori interests in IT and Te Huarahi Tika Trust is the trust responsible for managing spectrum won by Maori to participate in the digital industry. This is part of the problem as these 2 groups are largely the same, and more, have overlapping interests such as Torotoro Waea (a Maori broadband company) and Nga Pu Waea (another Maori mobile phone group), basically locking significant Maori IT positions up in just a handful of people.

So – Tex and Maori were partners in founding 2degrees but Maori found new partners, selling “our Maori shares” to overseas interests, in particular Trilogy from the States (but there are also now Hong Kong and UK partners in the mix, so we are told), essentially reducing Tex’s interests to a bare minimum. If you Google Tex, you will find he has staunchly supported Maori and 2degrees, whilst the Maori players (we feel) have lost sight as to the true goes of managing and commercializing the asset.

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(5) Comments

  1. Maria Fuller

    Aue!one could say what ia the world coming to?We never hear when any of our Maori get into business until things begin to smell of skunk or pirau/piro and then asd to say always in the worst light!Like we have no grey matter that is acceptable to the status quo sad...Reckon time to stand up and be counted.Okay Tex's shares hve been serious compromised..have to ask why wasn't there a kaitiaki system in place to guard against this alien greed!Begs the question do we really care? Sometimes wonder...Is it because we as an iwi are predominately pohara or are in a state of enforced apathy??I dont envy our tamaiti Hone in His tireless efforts to grab some daylight for our people polically.Kia Ora koutou Ngapuhi Nuitonu...

  2. DigitalMaori

    Morena Nua Girl. Apologies for the article. In short, Tex helped form 2Degrees, along with Hautaki and Te Huarahi Tika Trust, each putting in money to get company moving. Hautaki is the business arm of Maori interests in IT and Te Huarahi Tika Trust is the trust responsible for managing spectrum won by Maori to participate in the digital industry. This is part of the problem as these 2 groups are largely the same, and more, have overlapping interests such as Torotoro Waea (a supposed Maori broadband company) and Nga Pu Waea (another Maori mobile phone group), basically locking significant Maori IT positions up in just a handful of people. So - Tex and Maori were partners in founding 2Degrees but Maori found new partners, selling "our Maori shares" to overseas interests, in particular Trilogy from the States (but there are also now Hong Kong and UK partners in the mix, so we are told), essentially reducing Tex's interests to a bare minimum. If you Google Tex, you will find he has staunchly supported Maori and 2Degrees, whilst some of the Maori players have let the power and the money go to their heads.

    1. Nua girl

      Thank you digital maori... slowly piecing this story together. It was frustrating trying to make sense of it all based on the one article I read of yours last night. I'm looking forward to watching this story unfold... It spurs the question... who's really selling our assets- some say John key but perhaps Maori are part of this greed too. All people (maori and pakeha) deserve to be brought into the spotlight if they're up to no good. As long as there is a brown dollar there will always be brown collar crime. Expose the monkeys I say, only takes one to ruin it for everyone else...

  3. Nua girl

    I found this article very difficult to read and understand. Is Spectrum and Te Huarahi Tika one in the same? Why is Mr Edwards awaiting an employment hearing, was he fired or asked to resign or what? Also who does the company issue more shares to and who are Trilogy. I'm sure this makes sense to the author but to everyday readers like myself- I'm just confused. Please learn to write for your readers, and yes, even for the slow ones like me.

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