Larry Williams Drive

The merger between Orcon Group (aka Vocus NZ) and 2degrees has cleared its final hurdle after the Overseas Investment Office granted consent.The deal earlier gained Commerce Commission, GCSB and shareholder approvals.Orcon Group chief executive Mark Callander, who will lead the merged business, said: "We expect the transaction to be finalised in the coming weeks and will come together as a combined business on June 1."The combined business would be known as 2degrees, Callander said.Orcon Group's various sub-brands, including Orcon, Slingshot, Flip and 2Talk will continue to be used. The firm also owns a nationwide fibre network spanning more than 4000km, a small power retailer (Switch Utilities) and provisions service for Sky TV's Sky Broadband.The new company will combine 2degrees' mobile network with Orcon Group's more landline-focused business for what analysts see as a stronger number three competitor to Spark and Vodafone.The merged company's combined revenue will be around $1.2 billion next to Spark's $