Investors wipe nearly $300M off Sky TV valuation after Vodafone merger rejected

Wed, 22 Feb 2017

By Pattrick Smellie Feb. 23 (BusinessDesk) - Sky TV Network Television shares were hammered when trading opened on the New Zealand stock exchange this morning, with investors wiping $293 million off the value of the pay-TV provider after this morning's rejection of its proposed merger with the New Zealand operations of the global telecommunications giant, Vodafone. Sky TV shares traded at $3.60 at 10am this morning, down 75 cents per share or 17 percent, on last night's closing price, to hit their lowest level since mid-2009. “This is...

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