Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Spark New Zealand is to form a fibre construction joint venture with Vocus Communications called Connect 8 in order to drive the deployment and delivery of fibre network services across the country.
Australia-based Vocus said it has agreed to sell its New Zealand construction division into the new joint venture, with Spark acquiring 50% of the business for an undisclosed upfront cash payment. Connect 8 will continue to construct fibre and telecoms assets for Vocus, Spark and other telecoms providers in New Zealand.
After an initial start-up period, Vocus said Connect 8 is expected to have an annual committed revenue pipeline of between NZ$15 million-NZ$17 million. Vocus and Spark will be equally represented on the Connect 8 board and receive equal distributions of profits.
David Havercroft, COO of Spark New Zealand, said the joint venture puts Spark in an even better position to help New Zealand businesses navigate a digital future in which fibre will become increasingly important.
“Spark New Zealand already has 8000 kilometres of fibre cable in New Zealand. This, paired with the Optical Transmission Network (OTN) – the core data transport network – connects more cities, exchanges and data centres than any other network provider in the country,” Havercroft said.
He noted that Spark New Zealand is investing hundreds of millions of dollars every year in its integrated network, including the rollout of 4G services using 700 MHz spectrum. Original post at Total Telecom