Spark completes sale of 70% of TowerCo business

Following its announcement on 12 July 2022, Spark New Zealand (Spark) has today announced that it has completed the sale of a 70% interest in its TowerCo business to the Ontario Teachers’ Pension Plan Board (Ontario Teachers’). The transaction was conditional on Overseas Investment Office approval, which has now been received.

Spark previously announced its intention to return up to $350 million to shareholders following completion of the TowerCo sale, through an on-market share buy-back.

The Spark board will now determine the process and timing for the buy-back and will update the market in due course. This will be dependent on market conditions, and Spark may investigate alternative return opportunities if required.

Authorised by:

Alastair White

GM Capital Markets

For more information contact

For media queries please contact:

Ellie Cross

Corporate Relations Lead Partner

(64) 22 630 0665

ellie.cross@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

As New Zealand's largest telecommunications and digital services company, Spark’s purpose is 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

Spark completes sale of 70% of TowerCo business

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Devon Funds Morning Note - 14 May 2025
Winton Media Release - Ayrburn Film Hub
CEN - CONTACT ENERGY APPOINTS NEW CHIEF FINANCIAL OFFICER
VCT - Vector announces strategic review for its fibre business
May 14th Morning Report
Rua approves debt facility to accelerate sales.
PCT - Precinct FY25 Third Quarter Dividends
MEL - Ampol exits retail electricity, Meridian takes on customers
Deposit scheme reduces risk, boosts trust - General Finance
May 12th Morning Report