A Māori director of Two Degrees believes the time is right to bring more Māori investors into the mobile phone company.
Antony Royal also sits on Hautaki, the commercial arm of Te Huarahi Tika Māori Spectrum Trust, which owns shares on behalf of all Māori.
He says Hautaki directors hope to start on-selling some of those shares to other Māori organisations.
A similar exercise before the network launched had little success, with only two central North Island land trusts, Tuaropaki and Wairarapa Moana, buying shares.
But Mr Royal says now the company has been going for a couple of years, Māori organisations will be in a better position to understand the business.
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