Spark New Zealand Ltd (ASX:SPK) shares up despite legal fight with regulator
Carin Pickworth | July 9, 2018 | More on: SPKTLSTPM
The New Zealand Commerce Commission is taking telecommunications provider Spark New Zealand Ltd(ASX: SPK) to court over three separate billing and operational issues.
But Spark shares were up 0.9% to $3.55 at the time of writing despite an announcement on the ASX this morning the company would go to court over an equipment fault in 2015, incorrect implementation of a welcome credit, and a billing issue.
Spark’s statement is that all of the problems were caused by genuine mistakes with “no malicious intent”, with no change to FY18 guidance as yet.
Across the pond in the telecommunications sphere Telstra Corporation Ltd(ASX: TLS) shares have opened down 0.5% today at $2.78 off the back of news Telstra has committed another US$125 million in the merger of its venture business with HarbourVest Partners. www.**promotion blocked**.au/2018/07/09/spark-new-zealand-ltd-asxspk-shares-up-despite-legal-fight-with-regulator/
SPK Price at posting:
$3.55 Sentiment: Hold Disclosure: Held
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