WELLINGTON, New Zealand–Telecom company Spark New Zealand Ltd. said it could sell stakes in its mobile towers and fiber network to realize more value for shareholders.
"Discussions are ongoing in relation to potential shared ownership models for passive infrastructure assets," the company said.
Spark has about 1,500 mobile towers in New Zealand and said there is no competitive advantage in complete ownership. It also said shared ownership of fiber networks could increase efficiency in a market that is highly competitive.
The company on Wednesday said its net profit for the financial year ended June 2021 fell nearly 9.0% to 384 million New Zealand dollars ($265.7 million) as the pandemic eroded roaming revenue.
Write to Stephen Wright at stephen.wright@wsj.com
(END) Dow Jones Newswires
August 17, 2021 17:22 ET (21:22 GMT)
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