MARKET CLOSE: NZ shares fall as Infratil flags equity raising for Vodafone deal

MARKET CLOSE: NZ shares fall as Infratil flags equity raising for Vodafone deal
Paul McBeth
By Paul McBeth May 14 (BusinessDesk) - New Zealand shares fell as infrastructure investor Infratil flagged it will raise new equity to help fund its share of the $3.4 billion takeover of Vodafone New Zealand.  The S&P/NZX 50 Index fell 56.48 points, or 0.6 percent, to 10,070.35. Within the index, 29 stocks fell, 18 rose, and three were unchanged. Turnover was $155.6 million.  Infratil fell as much as 6.1 percent, and ended the day at $4.48, down 2.6 percent on a bigger volume than usual of 2.1 million shares. The investment firm will p...

More Markets

Volatile stocks drive NZ sharemarket down nearly 0.5%
Markets Market Close

Volatile stocks drive NZ sharemarket down nearly 0.5%

The S&P/NZX 50 Index closed at 12.844.59, declining 60.45 points or 0.47%.

Lyttelton Port result improves but CEO says it's not enough
Infrastructure

Lyttelton Port result improves but CEO says it's not enough

The CEO says Lyttelton Port does not generate sufficient returns on its capital base. 

Sky CFO Ciara McGuigan resigns in surprise departure
Markets

Sky CFO Ciara McGuigan resigns in surprise departure

Embattled broadcaster Sky TV is losing its chief financial officer with immediate effect.The pay-TV operator, facing a barrage of customer anger over poor satellite reception in recent weeks, announced the resignation of Ciara McGuigan on Wednesday.Her departure, effective immedi...

Ex-contractors reveal Harvey Norman business model pressures
Retail Exclusive

Ex-contractors reveal Harvey Norman business model pressures

The promise of big money can require extreme flexibility from ‘proprietors’.