Spark sells Telecom Rentals for $106M to Australia's FlexiGroup

Tue, 03 Mar 2015

By Tina Morrison March 4 (BusinessDesk) - Spark New Zealand, formerly Telecom Corp, agreed to sell its Telecom Rentals business for $106 million to Australian financial services company FlexiGroup. Telecom Rentals, which provides IT and telecommunications equipment leases to commercial and government customers in New Zealand, produces about $5 million of annual earnings before interest, tax, depreciation and amortisation, Auckland-based Spark said in a statement. Spark is divesting the unit to focus on digital services. For FlexiGroup,...

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