Spark New Zealand welcomes Telecommunications Act review

Company News

Spark New Zealand Limited (ASX:SPK) has welcomed the direction of the New Zealand Telecommunications Act discussion, declaring the review a step towards greater certainty for the industry.
The review will determine how much the wholesale companies who own the fibre and copper lines networks can charge broadband retailers like Spark to provide services across their networks. 
General Manager of Regulation John Wesley-Smith said wholesale line charges make up about half the cost most New Zealanders pay for their broadband, so it is important these charges are set right.
Mr Wesley-Smith also said determining the regulatory settings that will apply from 2020 will be an important factor in ensuring a healthy, competitive market for the benefit of consumers. 
Spark New Zealand recorded a net profit of $148.12 million at 31 December 2015.