UPDATE: Spark says TeamTalk valuation 'lacks credibility'; TeamTalk shares gain

Wed, 22 Mar 2017

(Recasts to reflect Spark comments, updated stock price, adds broker comment) By Tina Morrison and Sophie Boot March 23 (BusinessDesk) - Spark New Zealand says an independent valuation range for its takeover target, TeamTalk, lacks credibility and the top end of the range amounts to an "absurd premium". TeamTalk shares surged after the report was released and are now higher than Spark's offer price. Auckland-based Spark, New Zealand's biggest telecommunications group, has offered 80 cents per share for TeamTalk, a 78 percent premium to...

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