Ontario Teachers Pension Plan is mulling whether it should sell a slice of Kiwi telco Spark NZ’s passive mobile towers, just over two years after it won an auction to buy a majority stake at a $NZ1.175 billion ($1 billion) valuation.
Street Talk understands the $C256 billion ($277 billion) pensions bigwig is weighing if it makes sense to part with a slice of its 83 per cent stake in Connexa, owner of about 2400 or two thirds of New Zealand’s cell towers that are used by telcos like Chorus, One NZ and 2 Degrees.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
