MARKET CLOSE: NZ shares drop; Spark falls, SkyTV gains on Vodafone merger plan

Thu, 09 Jun 2016

By Sophie Boot June 9 (BusinessDesk) - New Zealand shares fell on concern Spark New Zealand would face a stronger rival should Sky Network Television, the biggest gainer on the day, conclude its merger plan with Vodafone New Zealand. The S&P/NZX 50 Index dropped 20.96 points, or 0.3 percent, to 6,970.55. Within the index, 28 stocks fell, 16 rose and six were unchanged. Turnover was $254 million. Sky TV soared 17.5 percent to $5.25 after announcing it will merge with the New Zealand unit of Vodafone Group to create the country's larges...

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