NZ's Sky Network Television slides after ending buyout talks

Sky Network Television

07/11/2023 21:55

** Media firm Sky Network Television's  SKT.NZ  shares fall
as much as 6% to NZ$2.67, lowest since Oct. 12
    ** Stock posts biggest intraday fall since June 2022
    ** Company ends talks with a third-party regarding an
updated conditional and non-binding buyout offer
    ** Company says the party proposed transaction value range
which fell short of fair intrinsic value
    ** Restarts share buyback worth NZ$15 mln ($8.90 mln)
    ** As of last close, stock up 23.5% this year

 ($1 = 1.6858 New Zealand dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com))