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4-Traders Homepage  >  Equities  >  NEW ZEALAND STOCK EXCHANGE  >  Spark New Zealand Ltd    SPK   NZTELE0001S4

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New Zealand court grants Spark's request for pause on Sky-Vodafone deal

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02/22/2017 | 04:29am CET

A New Zealand court on Wednesday ruled that a 36-hour pause must take place before Sky Network Television (>> SKY Network Television Limited) can buy Vodafone's New Zealand unit (>> Vodafone Group plc) if the competition regulator approves the deal.

A New Zealand court on Wednesday ruled that a 36-hour pause must take place before Sky Network Television (>> SKY Network Television Limited) can buy Vodafone's New Zealand unit (>> Vodafone Group plc) if the competition regulator approves the deal.

Rival telecommunications company Spark (>> Spark New Zealand Ltd) on Monday asked the court to consider imposing the pause, saying it would provide companies "breathing space" to understand the regulator's reasoning.

Sky said it was considering the implications of the ruling.

The Commerce Commission is due to rule on the proposed NZ$1.3 billion ($933 million) takeover on Feb. 23 and has previously cited concern the deal would dampen competition from rival broadband and mobile providers.

Shares in Sky TV were halted, having fallen 2.7 percent, while shares in Spark edged up 0.6 percent.

($1 = 1.3939 New Zealand dollars)

(Reporting by Charlotte Greenfield; Editing by Himani Sarkar)

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Financials ( NZD)
Sales 2017 3 557 M
EBIT 2017 574 M
Net income 2017 389 M
Debt 2017 930 M
Yield 2017 7,01%
P/E ratio 2017 16,56
P/E ratio 2018 16,11
EV / Sales 2017 2,10x
EV / Sales 2018 2,08x
Capitalization 6 533 M
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Income Statement Evolution
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Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 8
Average target price 3,47  NZD
Spread / Average Target -2,6%
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Managers
NameTitle
Simon Paul Moutter Managing Director & Executive Director
Mark John Verbiest Non-Executive Chairman
Mark Beder Chief Operating Officer
David Chalmers Chief Financial Officer
Charles Sitch Independent Non-Executive Director
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