Mobile brand 2Degrees has called a media briefing today to "announce a major development regarding the future of the business."
2Degrees declined to offer any more detail but some industry sources have predicted a reappraisal of its ownership structure.
It is not clear if that would relate to a new investor or consolidation by one existing shareholder.
The company also expected to reveal a new broadband offering that would help it to compete with packages from Spark and Vodafone.
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2degrees began in 2009 and broke the duopoly of Telecom and Vodafone.
In January three directors resigned from Communications Venture Partners (CVP) - a European based investment company with a 27 per cent stake in 2degrees - amid questions about its ability for growth.
Directors Andy Scott, Claudia Mayr-Dobin and former chief executive Mike Reynolds ceased as directors effective 20 January 2015.
Forsyth Barr analyst Blair Galpin said that in the current market a new player would bring added capabilities to the firm.
In mid-2014 there was speculation that Indonesia's largest telecommunications firm, PT
Telkom, might buy a minority stake in 2degrees but that interest came to nothing.
Other names mentioned as potential investors include Virgin Mobile - which has a strong branding focus - and Digicel which has its base in small island markets in the Pacific Islands in the Caribbean.