New Zealand telecommunications provider Spark New Zealand Ltd (ASX: SPK) is one step closer to its ambition to have 85% of customers upgraded to new broadband technologies by 2020, with 50% of its broadband users now on either fibre or wireless.
In the past year, Spark has switched on 39 new 4.5G sites across New Zealand with its investment in wireless capabilities only set to increase as 5G comes into play.
Last month Spark updated FY18 guidance, flagging the likelihood of $25 million to $30 million in costs being brought forward into FY18 due to the acceleration of its Quantum programme – bringing total costs to between $50 million and $55 million.
On home soil telcos, all eyes are on the Telstra Corporation Ltd (ASX: TLS) share price today following yesterday’s investor presentation which flagged the possible sacking of 8000 staff.
Vocus Group Ltd (ASX: VOC) shares are back on the up, rising 3.9% to $2.56 at the time of writing after news broke yesterday of a $136 million subsea cable contract win, despite no official announcement on the ASX.
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Motley Fool contributor Carin Pickworth owns shares of Telstra Limited. The Motley Fool Australia owns shares of and has recommended Telstra Limited and Vocus Communications Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.