MENU

Spark New Zealand Ltd (ASX:SPK) shares up despite legal fight with regulator

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.

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Atlassian.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

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.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…

Including:

The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!