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Spark New Zealand Limited ( (AU:SPK) ) has provided an update.
Spark New Zealand has accepted an offer from Hutchison Telecommunications (Amsterdam) BV to sell its 10% shareholding in Hutchison Telecommunications (Australia) Limited (HTAL) at a 45% premium to the upper valuation range. This divestment aligns with Spark’s strategic review of non-core assets and is expected to generate NZ$47 million in cash proceeds, which will be used to reduce net debt.
More about Spark New Zealand Limited
As New Zealand’s largest telecommunications and digital services company, Spark provides mobile, broadband, and digital services to millions of New Zealanders and thousands of businesses. The company’s purpose is to help all of New Zealand succeed in a digital world.
Average Trading Volume: 1,523,157
Technical Sentiment Signal: Sell
Current Market Cap: A$4B
For detailed information about SPK stock, go to TipRanks’ Stock Analysis page.