The New Zealand Commerce Commission is taking telecommunications provider Spark New Zealand Ltd (ASX: SPK) to court over three separate billing and operational issues.
But Spark shares were up 0.9% to $3.55 at the time of writing despite an announcement on the ASX this morning the company would go to court over an equipment fault in 2015, incorrect implementation of a welcome credit, and a billing issue.
Spark’s statement is that all of the problems were caused by genuine mistakes with “no malicious intent”, with no change to FY18 guidance as yet.
Across the pond in the telecommunications sphere Telstra Corporation Ltd (ASX: TLS) shares have opened down 0.5% today at $2.78 off the back of news Telstra has committed another US$125 million in the merger of its venture business with HarbourVest Partners.
TPG Telecom Ltd (ASX: TPM) shares are up 0.5% today to $5.39 at the time of writing.
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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 TPG Telecom 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.