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Spark New Zealand Limited ADR (NZTCY)

- OTCPK - Current
  • Dec. 9, 2013, 11:19 AM
    • Telecom New Zealand (NZTCY +1.3%) will sell business telecommunications and cloud services provider AAPT for AU$450M ($409M) to TPG. Closing is expected in Feb., with Australian regulators having cleared the deal.
    • After having sold the consumer division of AAPT in 2010 for AU$60M, the price the telco is getting is a far cry from the AU$2.2B it paid for AAPT at the peak of the dot com bubble in 1999.
    • The ops' revenue has consistently declined, as has operational performance, with AAPT generating EBITDA of $57M this year, down $10M from the previous year.
    • To TPG, the 11K km of fibre the unit owns across six states and territories "will provide ... a much larger backhaul network across Australia, as the company begins to embark on a fibre-to-the-basement rollout for 500,000 CBD businesses and apartments covered by TPG's existing network," ZDNet writes.
  • Jul. 12, 2012, 3:07 AM
    Vodafone (VOD) buys Telstra's struggling New Zealand operations for NZ$840M ($670M). The unit serves only 16% of New Zealand's broadband market, but with Vodafone's backing it will now be able to compete much more aggressively with dominant player Telecom New Zealand (NZT).
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