NZ's Spark on steep climb amid NZ$314 million mobile towers divestment

Spark New Zealand

12/12/2024 24:34

** Shares of telecom co Spark  SPK.NZ  rise as much as 4.3%
to A$2.92, their highest since Dec. 4
    ** Co to sell its remaining 17% stake in mobile towers co
Connexa for NZ$314 million ($181.65 million) to investment group
CDPQ
    ** Expects to record a gain of NZ$70 million in reported
EBITDA from divestment
    ** Stock has fallen 46.0% YTD, as of last close


($1 = 1.7286 New Zealand dollars)

 (Reporting by Nichiket Sunil in Bengaluru)
 ((Reuters.Briefs@thomsonreuters.com))