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An update from Spark New Zealand Limited ( (AU:SPK) ) is now available.
Spark New Zealand has announced the sale of a 75% stake in its data centre business to Pacific Equity Partners (PEP) for up to $705 million, aiming to secure funding for expanding its data centre capacity. This strategic move allows Spark to reduce its net debt and continue participating in the growing data centre market with a 25% retained stake, while the new entity, DC Co, will operate independently to capture growth opportunities in New Zealand’s data centre sector.
More about Spark New Zealand Limited
Spark New Zealand Limited is a telecommunications company based in New Zealand, providing a range of services including mobile, broadband, and digital solutions. The company is focused on leveraging technology advancements to enhance its infrastructure and service offerings, particularly in data storage and cloud services.
Average Trading Volume: 1,327,747
Technical Sentiment Signal: Sell
Current Market Cap: A$4.47B
For a thorough assessment of SPK stock, go to TipRanks’ Stock Analysis page.