Thursday 22nd June 2023 |
Text too small? |
Following its announcement on 15 December 2022, Spark New Zealand (“Spark”) has today confirmed that Connexa has completed the acquisition of the passive mobile telecommunications tower assets of 2degrees Mobile Limited and 2degrees Networks Limited (“2degrees”) from its owners Macquarie Asset Management and Aware Super Limited.
The transaction was conditional on Commerce Commission and Overseas Investment Office approvals, which have both now been received.
Connexa is the independent mobile towers business in which Spark is a shareholder.
As previously announced, Spark did not contribute equity to the acquisition and following today’s completion, its shareholding in Connexa is diluted from 30% to approximately 17% (of the resulting larger business). Spark retains certain governance rights including Board representation and will benefit from the value accretive expansion of the business.
Authorised by:
Alexa Preston
Finance Lead Partner – Group Performance & Investor Relations
For more information contact
For media queries please contact:
Althea Lovell
Corporate Relations Lead Partner
(64) 21 222 2992
althea.lovell@spark.co.nz
For investor queries please contact:
Chante Mueller
Head of Investor Relations
(64) 27 469 3062
Chante.Mueller@spark.co.nz
About Spark
Spark is New Zealand's largest telecommunications and digital services company, with a purpose to help all of New Zealand win big in a digital world. Spark provides mobile, broadband, and digital services to millions of New Zealanders and thousands of New Zealand businesses.
www.sparknz.co.nz
No comments yet
Kiwi Property FY24 annual results announcement date
MFB - FY24 Results Announcement Date and Briefing Details
AIA - Announces books closed for retail bond offer
May 8th Morning Report
NZ-UAE free trade on the table
ANZ - 2024 Half Year Results Documents
FWL - Foley Wines Limited 2024 Harvest
IKE Closes Major Multi-Year Subscription Deals
AIA - 2024 Macquarie Australia Conference Overview of AIA
Devon Funds Morning Note - 06 May 2024